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USDA data showed US December 2019 dairy product output was higher year over year for most categories. Cheese output was slightly above one billion pounds and butter output rose about 4% from a year earlier.
Higher dairy product output adds supply pressure on milk prices, though the effect on feed demand is modest.
brownfieldagnews.comNicole HeslipFeb 4, 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.
