
Dairy margins weakened in late July as milk prices were flat and projected feed costs rose. USDA reported June milk production up 0.17% year on year, the first annual increase since October 2021, while the milking herd remained 78,000 head lower than a year earlier.
Slightly higher milk output and firm feed costs squeeze producer margins, and corn was bid higher on drought and heat forecasts, which adds cost pressure for dairy feeders.
Setelah 273 peristiwa laporan bearish sebelumnya, Susu (Class III) bergerak median -0,2% selama 5 sesi (39% lebih tinggi; separuh tengah -1,3% sampai +0,4%), dan -1,4% selama 20 sesi.
Setelah 1.040 peristiwa laporan bullish sebelumnya, Jagung bergerak median +0,5% selama 5 sesi (62% lebih tinggi; separuh tengah -0,9% sampai +2,0%), dan +0,8% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
USDA data showing June milk production up year over year, the first rise since October 2021, adds supply pressure to Class III futures.