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Hoard's Dairyman's Washington Dairygrams column reports Class III futures averaging $17.70 through mid-July after a 70-cent rise, and USDA raising its 2019 All-Milk price projection to $18.20. It also notes that US cheese, whey and skim milk powder sales to China have fallen sharply since retaliatory tariffs, with African swine fever possibly a larger factor in whey declines.
Stronger Class III milk prices and USDA's higher forecast support dairy-feed demand outlook, while China trade barriers and swine fever cut export demand for dairy and whey feed ingredients.
hoards.comCorey GeigerJul 31, 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.
Not 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.
