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Minnesota lost about 10% of its dairy farms in 2018 and Wisconsin is down to about 8,000 farms. FINBIN data show overall cost of production averaged $17.22 per cwt of milk in 2017, with small herds facing much higher costs than large herds.
Farm exits and high production costs relative to milk prices reduce future milk supply over time, which is bullish for dairy prices. Shrinking herds also lower demand for purchased feed.
extension.umn.edu2019年1月16日在过去 20 次看涨的宏观事件之后，牛奶(III类) 在 5 个交易日内中位数变动 +0.1%（55% 上涨；中间一半区间为 -0.1% 至 +2.4%），20 个交易日内为 +2.4%。
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。
