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USDA's January Livestock, Dairy & Poultry Outlook reported that wholesale prices for all major dairy products rose from November to December, with butter up the most, from $1.909 to $2.100/lb. December cheese, nonfat dry milk and dry whey prices were the highest monthly levels of the year.
Domestic commercial disappearance rose sharply year over year, and U.S. milk output was up 2.4% in November.
Strong domestic demand alongside rising output supports dairy product prices, which feeds into higher Class III milk values and dairy-based feed ingredient pricing.
feedstuffs.comKrissa Welshans 1Jan 25, 2017After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
