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USDA again lowered its 2019 milk production forecast because of slower milk-per-cow growth, according to the April supply and demand report. Cheese prices were forecast higher while butter, nonfat dry milk and whey were lowered, and the all-milk price was set at $17.25-$17.75.
The reduced milk supply outlook and modestly higher all-milk price support dairy prices, though weaker whey and NDM forecasts limit gains in dairy byproduct feeds.
brownfieldagnews.comNicole HeslipApr 9, 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.
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.
