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The May 10 WASDE projects 2020 milk production above 2019 as dairy herds expand in response to higher milk prices and lower feed costs. The 2020 all-milk price is forecast at $18.80 per cwt, with higher cheese, butter and nonfat dry milk prices.
Expected herd expansion and lower feed costs point to rising future dairy feed demand, a supportive signal for feed ingredient markets.
blogs.extension.iastate.eduMay 13, 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.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
