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USDA's annual Milk Production, Disposition and Income report shows US dairy cow numbers at 9.328 million in 2016, the highest in about two decades. Milk per cow rose to 22,774 pounds, and total production reached 212.4 billion pounds, up 1.8%.
Cash receipts fell again as farm income lagged output gains.
Expanding cow numbers and productivity add to milk supply and weigh on dairy prices. Lower farm income may slow future expansion over time.
agproud.comDave NatzkeJun 10, 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.
