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Economist Bob Cropp says the Class III milk price hit bottom in February and will rise in March, with cheese prices improving. Class III peaked at $16.88 in November, fell to $14 in January, and was expected near $13.50 in February.
Dry whey remains weak at around 25 cents per pound.
Improving cheese and butter prices lift the milk price, which tends to support dairy-cow feed demand and dairy-related feed ingredient prices, while weak whey limits upside.
farmprogress.comFran O'LearyFeb 28, 2018Not 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.
Economist Bob Cropp said Class III bottomed in February and would rise in March on improving cheese prices, a sentiment shift that directly supports the 4.32% Class III futures jump on 2018-02-28.
