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USDA's August supply and demand report forecasts higher 2018 prices for cheese, nonfat dry milk and whey, and lower butter prices. The 2018 all-milk price forecast was raised by 20 cents to a range of $16.30 to $16.50 as the dairy herd contracts.
A USDA projection of firmer milk prices on a smaller herd supports dairy margins and milk-based feed ingredient values.
brownfieldagnews.comNicole HeslipSep 12, 2018After 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.
