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Idaho dairy processors are dumping an estimated 700,000 to 1 million pounds of milk a day as restaurant and foodservice demand has fallen. Processors are cutting purchases, and the seasonal spring flush of about 10% extra output is expected to worsen the glut.
Surplus milk being dumped and the coming spring production increase point to continued downward pressure on milk and cream prices.
capitalpress.comCAROL RYAN DUMASCapital PressApr 24, 2020After 49 past bearish macro events, Milk (Class III) moved a median -0.6% over 5 sessions (33% higher; middle half -8.5% to +0.6%), and -7.5% 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.
