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Butter inventories were reported down 4 percent year over year while cheese stocks rose 7 percent. The US national dairy herd is the largest since the 1990s and milk per cow is climbing.
Rising cow numbers and milk per cow point to ample milk supply, which keeps pressure on dairy product prices.
lancasterfarming.comCharlene M. Shupp Espenshade, Special Sections EditorJul 14, 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.
