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Fractional Gain in U.S. Milk Price Outlook
WASHINGTON - Jul 12/05 - SNS -- Milk production in 2005 and 2006 is forecast higher than last month as both the number of cows and milk per cow are raised, according to the latest report from the USDA's World Agricultural Outlook Board.
Commercial use, on both a fat and skim solids basis, is increased, but commercial stock forecasts are also raised.
Cheese and nonfat dry milk price forecasts in 2005 are fractionally lower, while butter and whey are raised slightly. As a result, the Class III and Class IV prices are raised fractionally on the low end of the range.
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