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USDA announced the August Federal order Class III benchmark at $17.60 per hundredweight, up 5 cents from July and the highest since December 2014. The article also reports the August Class IV price at $16.74 and a July milk-to-feed price ratio of 2.16.
Corn averaged $4.16 per bushel and soybeans $8.37 that month.
Strong milk prices relative to feed improve dairy margins and can support higher demand for dairy feed ingredients. Higher corn and soybean prices partly offset that gain for feed buyers.
thefencepost.comLee MielkeSep 13, 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.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
