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An Ohio farm outlet reviewed Class III milk prices for July and August 2016, which closed above projections at $15.26 and $16.91 per cwt. It said the 2016 year-to-date Class III average of $14.16 remains well below the five-year average.
USDA forecasts put 2017 all-milk prices near $15.75 per cwt.
A depressed 2016 milk price and a modest 2017 forecast suggest dairy farms will keep tight budgets, which can limit herd expansion and dairy-related feed demand.
ocj.comBrianna SmithOct 3, 2016Not 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.
