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The January WASDE lowered US milk production forecasts for 2019 and 2020 because of slower growth in milk per cow. Cheese, butter and whey price forecasts for 2020 were reduced on weak demand and high stocks, and the 2020 all-milk price forecast was cut to $19.25 per cwt.
Lower production is supportive for milk supply, but cuts to product price forecasts signal weaker dairy demand. Net effect on dairy feed demand is mixed.
blogs.extension.iastate.eduJan 13, 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.
