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US dairy cow numbers have fallen by about 120,000 head since January 2018, holding annual milk production growth below 1% in 2018 and 2019. Farm-level milk prices have risen for seven consecutive months to $18.90 per hundredweight.
Tighter milk supply supports higher dairy prices, and continued herd contraction would sustain demand for feed and dairy-linked ingredients.
hoards.comScott Brown, University of MissouriOct 23, 2019Not enough comparable past events yet for a historical read.
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.
