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The NMPF says second-half 2019 US milk prices may average $19.22 per hundredweight, the highest since 2014, based on CME forecasts. Dairy demand is outpacing supply as US milk output stalls, and exports remain strong despite losses in China sales.
Mexican market access has also recently improved.
Demand growth against flat milk supply supports firmer dairy prices, and resilient exports help sustain the outlook for dairy-based feed demand.
nmpf.orgTheresa SweeneyAug 1, 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.
