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The USDA's December Class III milk base price fell 66 cents from November to $13.78 per hundredweight, the lowest since February 2018. The 2018 Class III average finished at $14.61, the lowest annual average since 2010.
Cheese and butter stocks were relatively high at year-end, keeping a lid on prices.
Heavy dairy inventories and weak export demand keep milk prices depressed, which lowers the cost of dairy-based feed ingredients. Buyers should expect soft milk-linked demand for feed until stocks clear.
en.edairynews.comDamián MoraisJan 8, 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.
