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Wisconsin dairy economist Bob Cropp forecasts the 2017 average Class III milk price at about $16.85 per cwt, compared with an estimated $14.85 for 2016. Strong U.S. milk production is the only major exporter output rising, while EU, New Zealand, Australia and Argentina are running lower.
Butter and cheese sales were strong in 2016.
Expected higher 2017 milk prices reflect tighter export-region supply and firm domestic dairy demand, supporting dairy-based feed values.
farmprogress.comFran O'LearyJan 23, 2017After 237 past bullish report events, MILK 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.
