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Aug 21, 2017REPORTUS

U.S. milk production may have been overestimated

Dave Kurzawski of FCStone suggests USDA may have overestimated U.S. milk production earlier in 2017, after USDA made its fifth cut to its milk production estimate. Global Dairy Trade prices slipped again on August 15 as product volumes offered at auction rose.

WHY IT MATTERS

If milk output was overstated, actual supplies are tighter than reported, which supports dairy prices, while weaker GDT results point to some export-side pressure.

AFFECTSMilk (Class III)▲

SOURCE
leadertelegram.comLee MielkeAug 21, 2017

Price reaction & history

Milk (Class III)▲bullishSO FAR1d +0.1%5d -0.1%20d -1.5%

After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.

Sep 23, 2019U.S. milk production remains just above last year | Market Columns | leadertelegram.com+0.1%
Jan 13, 2020November Dairy Products report reveals destination of milk output | Market Columns | leadertelegram.com-0.1%
Jul 5, 2019Milk price down slightly from May but still highest since November 2017 | Dairy | leadertelegram.com+0.2%
Sep 11, 2021USDA outlook reduces milk production estimates, forecasts better margins - Progressive Dairy | Ag Proud+0.1%
Apr 12, 2022Lee Mielke: Milk production estimate raised | Capital Press+0.2%

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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