Loading…
The March WASDE raised the 2017 US milk production forecast on faster cow herd growth and cut the cheese price forecast on high stocks. It raised the Class III price on stronger whey prices and lowered the Class IV price on weaker nonfat dry milk.
Higher milk supply and lower cheese and nonfat dry milk prices weigh on dairy feed demand outlook, while firmer whey and butter provide partial offset.
blogs.extension.iastate.eduKristi ElmoreMar 9, 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.
