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USDA May data showed processors shifting heavily into skim milk powder, with SMP output up nearly 77% from a year earlier. Cheese output rose over three percent from April, butter fell 18% from the prior month, and nonfat dry milk was down more than nine percent year over year.
The shift toward powder production increases available skim milk products for feed use, while lower butter output tightens butterfat supply, signaling mixed price pressure across dairy inputs.
brownfieldagnews.comNicole HeslipJul 1, 2020After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
