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USDA raised and lowered its 2017 and 2018 milk production, dairy product and milk price forecasts. University of Wisconsin economist Bob Cropp says forecast Class III prices for the rest of the year have softened, with the September Class III price expected near $16.25.
Cheese, whey and butter prices all weakened in September.
Softer cheese, whey and butter prices lower the expected Class III milk price, which weighs on milk returns for dairy producers. Record 2017 output of 216 billion pounds adds to supply pressure.
farmprogress.comFran O'LearySep 28, 2017Not 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.
