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Dairy margins weakened in late September 2016 as milk prices fell while feed costs held steady. USDA data showed August milk production up 1.9 percent year on year, with the dairy herd at 9.36 million cows, the highest in nearly 20 years.
California Class 4a and 4b prices also declined in September.
Rising output and a larger herd are weighing on milk prices and margins. Corn stock data was neutral, so feed costs are not adding significant price pressure.
agproud.comDave Natzke2016年10月14日在过去 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。
August milk output up 1.9% with the largest herd in nearly 20 years signals oversupply that pressures prices, and margins weakened as milk prices fell.
