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USDA estimated November 2017 milk production at 1.0% above a year earlier, putting 2017 on track for 215.4 billion pounds. Butter, cheddar, dry whey and nonfat dry milk prices declined through December, with barrels falling to $1.48 per pound.
Output growth outpacing demand is pushing dairy product prices down, which pressures milk prices and the financial position of dairy feed buyers.
hoards.comInterPuls acquires ADFDec 20, 2017After 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.
