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Continued growth in milk output, large cheese stocks and many dry dairy products, plus global competition, are expected to keep pressure on dairy prices in 2018. USDA forecast 2018 US milk production at 219 billion lbs, up 1.6%, and the all-milk price midpoint down 9% from 2017.
Butter and cheese have solid demand support while dry product prices remain weak.
Heavy milk supply and forecast price declines point to weaker Class III and Class IV returns, which keeps dairy-based feed ingredient values under pressure.
foodbusinessnews.netRon SterkApr 3, 2018Not 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.
