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The chief economist of the National Milk Producers Federation said dairy farmers need a better year after weak prices in recent years. Futures markets have added about 50 cents to 2019 milk prices over the past month on firmer cheese and nonfat dry milk prices.
Earlier in December, 2019 prices were projected $1.10 per hundredweight above 2018.
Rising futures on cheese and nonfat dry milk point to stronger milk prices in 2019, which supports dairy feed demand. The gains are based on expectations rather than current supply changes.
brownfieldagnews.comNicole HeslipJan 9, 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.
