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A retired dairy co-op executive analyzes 2018 US milk data, noting milk production rose about 1% and demand rose 2.3%. He explains that rising milk solids content per cow means total solids supply grew 1.2%, which helps explain why the 2018 all-milk price was the lowest since 2009.
Higher butterfat and protein content raises dairy product output per gallon, which weighs on dairy product prices and therefore on the milk price feed buyers see in dairy cattle economics. The analysis points to tightening supply as a possible future price support.
agproud.comCalvin CovingtonMay 7, 2019After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
