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USDA's June WASDE projected milk prices rising for the rest of 2018 and into 2019, with the all-milk price targeted at $16.60 to $17.00 per cwt for the next six months. The Class III price is set to rise on stronger whey prices.
Milk production forecasts were trimmed on lower cow numbers and slower output per cow.
Higher projected US milk prices and lower production point to firmer dairy markets, which supports the price of dairy by-products used in feed.
wisfarmer.comJun 13, 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.
