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AgriBank economist David Bullock expects dairy prices to strengthen through 2017, citing strong domestic cheese and butter demand. He projects Class III averaging around $16-17 for the year, and warns a strengthening dollar could hurt powdered milk and whey exports.
A forecast of higher milk prices and a feed-to-milk margin above $8 supports dairy herd feed demand. The stronger dollar is a headwind for dairy export volumes.
brownfieldagnews.comLarry LeeJan 23, 2017After 20 past bullish macro events, Milk (Class III) moved a median +0.1% over 5 sessions (55% higher; middle half -0.1% to +2.4%), and +2.4% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
