USDA report sees 2017 milk prices at $16.85 to $17.65 per cwt
USDA lowers its milk production forecast for 2017 as slower growth in cow numbers more than offsets slightly higher growth in milk per cow.
USDA released its monthly update of the World Agricultural Supply and Demand Estimates Report. The next monthly report will be released Jan. 12, 2017. Below is commentary about the dairy and sugar markets. (Read the full report and download tables here: http://www.usda.gov/oce/commodity/wasde/latest.pdf.)
The milk production forecast is lowered for both 2016 and 2017 as slower growth in cow numbers more than offsets slightly higher growth in milk per cow. Fat basis exports are raised for 2016 on higher butter exports, and skim-solids basis exports are increased on stronger sales of lactose.
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