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US cheese consumption rose by the largest amount since 2000 over the past two years, while fluid milk consumption has fallen for six straight years. US milk production hit a record for a seventh straight year, and butter demand is also advancing.
Strong cheese and butter demand is supporting milk prices despite oversupply, which underpins dairy income and feed demand. Continued record output limits how far prices can rise.
spokesman.comMegan DurisinJan 12, 2017Not 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.
