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USDA's latest WASDE left milk production estimates unchanged but lowered its projected Class III milk price because larger supplies and weaker demand pushed down whey prices. The agency also lowered its 2018 all-milk price forecast to $15.60 to $16.10 per hundredweight.
Skim-solids exports are rising on stronger nonfat dry milk and skim milk powder sales.
Lower whey and Class III forecasts signal softer milk revenue for US producers and weaker demand for dairy-based feed ingredients.
brownfieldagnews.comLarry LeeApr 10, 2018After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
