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USDA data show March 2020 US cheese production rose 0.2% year on year and butter output jumped 7.5%. Nonfat dry milk for human use rose 6.7%, while skim milk powder fell 15.4% and lactose fell 15.8%.
Higher butter and cheese output adds to dairy supply, which is bearish for milk prices, though the mixed component data limit the overall signal.
brownfieldagnews.comadminMay 5, 2020After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
