Loading…
USDA announced the first Federal order Class III benchmark of 2020 at $17.05 per hundredweight, down $2.32 from December. Global Dairy Trade auction prices fell 4.7% in the latest event, with whole milk powder down 6.2%, as traders weigh coronavirus fallout.
Lower Class III and weak GDT powder and butterfat values point to softer dairy prices, reducing the value of dairy-based feed inputs and pressuring milk returns.
thefencepost.comLee MielkeFeb 14, 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.
