Loading…
USDA's February Cold Storage report shows US butter stocks up 14.8% from January but 8.8% below a year earlier. Total cheese inventory was 1.37 billion pounds, up 4% year-on-year, with mozzarella holdings rising.
Analysts say the stock levels are plentiful but not overly burdensome.
Ample cheese and butter stocks weigh on US dairy prices and reduce pressure to raise milk output. The effect on feed demand is small.
leadertelegram.comLee MielkeApr 1, 2019After 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.
