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Class III milk futures on the CME fell on follow-through selling and supply concerns, with July down $0.12 at $15.70. Cash cheese blocks were unchanged at $1.51 and butter steady at $2.67.
Australian milk output in May fell 2.8% year on year, and the USDA dairy index rose 1.2% on the month.
Routine dairy price wrap with modest supply tightening abroad; limited direct effect on feed grain prices.
brownfieldagnews.comJohn PerkinsJun 28, 2017brownfieldagnews.comJohn PerkinsJun 29, 2017brownfieldagnews.comJohn PerkinsJun 27, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Directly reports Class III futures falling on follow-through selling and supply concerns on 2017-06-27, the session leading into the drop, though the quoted July decline is smaller than the move measured.
