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The USDA's November 2024 Dairy Product Production Report showed cheese output down 33 million pounds from expectations, the largest drop since January 2024. Butter and nonfat dry milk output rose above forecasts, and California milk output fell a record 9.2% year on year.
Lower cheese output and a sharp drop in California milk supply tighten milk availability, while higher butter and powder output adds to ingredient supply. The net price effect is mixed.
thebullvine.comAndrew Hunt6 jan 2025Na 136 eerdere neutraal rapport-gebeurtenissen bewoog Melk (Class III) zich mediaan -0,1% over 5 sessies (43% hoger; middelste helft -0,7% tot +0,5%), en -0,3% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Published 2025-01-06, the November report showed cheese output 33 million lbs below expectations and California milk output down a record 9.2%. This tighter cheese supply supports Class III futures.
