◂ Event Timeline

Jan 13, 2020REPORTUS

November Dairy Products report reveals destination of milk output

USDA lowered 2019 and 2020 milk production forecasts by 300 to 400 million pounds in the January WASDE, citing slower milk per cow growth. The 2020 Class III average estimate was cut 30 cents to $17.35 per cwt.

WHY IT MATTERS

Reduced milk output forecasts tighten dairy supply and point to firmer milk prices, which can support feed demand for dairy operations.

AFFECTSMilk (Class III)▲

SOURCE
leadertelegram.comLee MielkeJan 13, 2020

Price reaction & history

Milk (Class III)▲bullishSO FAR1d -0.1%5d -0.1%20d +0.1%

After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.

Sep 23, 2019U.S. milk production remains just above last year | Market Columns | leadertelegram.com+0.1%
Aug 21, 2017U.S. milk production may have been overestimated | Dairy | leadertelegram.com-0.1%
Jul 5, 2019Milk price down slightly from May but still highest since November 2017 | Dairy | leadertelegram.com+0.2%
Dec 9, 2019Class III benchmark milk price peaks | Market Columns | leadertelegram.com-0.8%
Dec 6, 2019November 2019 Dairy Market Report+0.3%

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.

Milk (Class III) MILK · GP ▸

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