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Dairy reporter Beth Newhart examines the American Dairy Coalition's call for the government to liquidate a record 1.4 billion pounds of surplus US cheese in cold storage. She says the surplus may be smaller in relative terms than publicized, given 2018 US cheese output of about 13 billion pounds.
A large cheese stockpile weighs on cheese and Class III prices until it is cleared. Whether the government intervenes or not, the overhang is a bearish factor for milk values.
dairyreporter.comBeth NewhartFeb 4, 2019Not enough comparable past events yet for a historical read.
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.
