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USDA's monthly milk production report showed May output at a record 20.6 billion pounds, up 2% year over year, and year-to-date output up 3%. Class III futures have hit fresh contract lows for July delivery after trading near $19 earlier in the year.
Record output keeps cheese and dairy product prices under pressure, a bearish signal for milk prices. A shrinking replacement-heifer pipeline could eventually cap production growth.
在过去 273 次看跌的报告事件之后,牛奶(III类) 在 5 个交易日内中位数变动 -0.2%(39% 上涨;中间一半区间为 -1.3% 至 +0.4%),20 个交易日内为 -1.4%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。
Record May milk output (+2% y/y) reported just before the move pressured Class III futures to fresh contract lows, a supply-driven sell-off.