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Record rainfall in Australia, New Zealand, and California has damaged pastures, infrastructure, and dairy facilities. Producers expect the rains to slow milk production in the short term through higher rates of mastitis and other disease and poorer feed quality.
Expected short-term milk output losses tighten dairy supply and support prices. Damaged pasture and feed quality also raise the value of purchased feed for producers in affected regions.
mctdairies.comJan 31, 2023After 32 past bullish weather events, MILK moved a median +0.1% over 5 sessions (50% higher; middle half -0.7% to +3.4%), and +3.2% 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.
