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Wisconsin dairy economist Bob Cropp projects the Class III milk price will rise into the $16s by May and could reach $17 by October, after averaging below $14 in January and February. Class IV prices are also expected to move into the $16s, and butter and nonfat dry milk prices are forecast to hold or rise.
A forecast recovery in milk prices improves dairy farm profitability and may support herd rebuilding and dairy feed demand later in 2019.
farmprogress.comFran O'LearyMay 1, 2019After 20 past bullish macro events, Milk (Class III) moved a median +0.1% over 5 sessions (55% higher; middle half -0.1% to +2.4%), and +2.4% 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.
