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NMPF's Peter Vitaliano forecasts the 2018 U.S. All-Milk price averaging about $16.50 per cwt, down $1.15 from 2017, based on December CME futures. He notes that milk production growth has slowed below the sustainable rate since mid-2017, which could help the market recover.
A lower forecast milk price reduces dairy producer income and may trim their feed budgets in 2018. Slowing milk output could support a firmer dairy market later in the year.
hoards.comPeter Vitaliano, NMPFJan 10, 2018hoards.comPeter Vitaliano, NMPFJan 10, 2018Not 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.
