Dairy Prices Set To Rebound if We See A Shortage of Milk

July 9, 2010 06:10 AM
Dairy Prices Set To Rebound if We See A Shortage of Milk


Since USDA basically extrapolates from the June 30 stocks and acres, it would have taken a reduction in yield today to create a surprise," says Jerry Gulke of the Gulke Group. "But USDA left corn and beans unchanged at 163.5 bu./acre and 42.9 bu./acre, despite the fact that ratings have dropped some since June. It could be they don't want to lower yields just at the critical production time and risk that later they find we pulled through with an excellent crop again."

Milk Rebound

In any case, Gulke says, "We've had huge increases in price for all grains so I expect a pull-back into the weekend; the surprise would be if we finish the day strong."

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