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USDA's Milk Production report showed August 2019 output at 18.28 billion pounds, up 0.2% year over year, with cow numbers at the lowest in three and a half years. Global Dairy Trade's weighted average rose 2.0% at the latest auction after three consecutive declines.
Slow milk output growth and a smaller herd support dairy prices, while a firmer GDT tilts global dairy sentiment modestly higher.
leadertelegram.comLee MielkeSep 23, 2019After 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.
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.
