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USDA data showed the November 2017 US average milk price at $18.10 per cwt, up 20 cents from October and 30 cents year over year. Feed costs fell in the same month, with corn down 11 cents to $3.15 per bushel, which lifted the MPP-Dairy income over feed cost margin to its highest level since February.
Higher milk prices combined with cheaper corn improve dairy farm margins, which can support herd retention and feed demand. The lower corn price reflects softer feed-grain values in the period.
agproud.comDave NatzkeJan 4, 2018After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
