◂ Event Timeline

Nov 29, 2017REPORTUS

Exports key to higher milk prices in 2018

USDA's milk production report showed October output 1.4% above a year earlier, after September was up 1%. The September Class III price was $16.36 and October rose to $16.69, but CME butter fell from $2.65 in August to $2.21 by late November.

WHY IT MATTERS

Rising milk output and falling butter and dry dairy product prices pressure Class III prices, with December possibly dropping below $16, which weakens dairy-sector demand for feed.

AFFECTSMilk (Class III)▼

SOURCE
farmprogress.comFran O'LearyNov 29, 2017

Price reaction & history

Milk (Class III)▼bearishSO FAR1d -9.3%5d -8.3%20d -8.3%

After 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.

Jan 30, 2023All Milk Prices Expected To Drop In 2023-8.0%
Dec 1, 2020Milk prices to be lower, less volatile in 2021-33.9%
Jan 3, 20182018 milk price expected to average $1 less than 2017-10.5%
Jun 25, 2021As Higher Milk Production Forecasts Settle In, Can Export Demand Help Save Prices? - Dairy Herd-2.6%
Dec 28, 2020Too much milk pushes prices lower-1.8%

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.

Milk (Class III) MILK · GP ▸

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