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The Ohio State Buckeye Dairy News newsletter reports that July and August Class III component prices were about $17.55 and $17.60 per hundredweight. Class III futures were trading between $17.50 and $18.00, and US milk production was down about 2% from 2018.
Exports were also down about 2%.
Steady milk prices with falling cow numbers suggest limited near-term change in dairy feed demand. Lower output and lower exports roughly offset each other on price.
dairy.osu.eduSep 30, 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.
