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Milk prices have risen steadily since February, with the July Class III price forecast near $17.40 versus $13.89 in February. US milk production in June was 0.3% lower year on year, with cow numbers down 1%.
Lower milk output and firmer prices suggest reduced dairy feed demand is tightening, supporting milk prices while the outlook for dairy-cow feed consumption stays subdued.
farmprogress.comFran O'LearyJul 29, 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.
