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The National Milk Producers Federation and International Dairy Foods Association asked USDA for aid, including $3 per hundredweight payments on 90% of production for farms cutting output 10%, and $525 million in government dairy product purchases. Dairy markets kept falling in early April as food service sales collapsed and producers dumped milk.
Proposed production cuts and government purchases could reduce surplus supply and support milk prices, though demand losses still dominate.
capitalpress.comLEE MIELKEFor the Capital PressApr 7, 2020After 24 past bearish policy events, Milk (Class III) moved a median -0.1% over 5 sessions (33% higher; middle half -1.8% to +0.5%), and -4.6% 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.
