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Mississippi State emeritus professor C.W. Herndon discusses USDA's 2020 All-Milk price forecast of $19.40 per cwt, which would be the highest since 2014.
He argues federal milk marketing order reform is complicated and that sustaining these prices requires restrained production and strong demand.
Projected higher All-Milk prices support dairy demand for feed, but the article is mainly policy commentary with limited direct price impact.
hoards.comC.W. ", Bill", HerndonJan 25, 2020After 17 past bullish policy events, Milk (Class III) moved a median -0.6% over 5 sessions (29% higher; middle half -1.6% to +0.2%), and -3.0% 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.
