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Rabobank reports a moderate rise in milk output in dairy-exporting countries, helped by higher milk prices and better weather after a late-2016 contraction. US milk production grew about 2% in the first four months of 2017 and is expected to keep expanding.
Europe and Oceania remain below US price levels.
Rising supply from the US and recovering exporters adds to dairy product availability, which tends to cap prices. Low feed costs keep producers profitable, so expansion is likely to continue.
capitalpress.comCarol Ryan DumasJul 7, 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.
