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October Class III milk futures closed the week at $19.57, up 36 cents, extending a four-week run of gains. October Class IV posted a limit-up day on Friday.
Spot dairy demand was steady to strong, and the government announced another $1 billion in dairy product purchases.
Government purchases add cheese and dairy product demand, supporting milk prices and the dairy-based feed ingredient complex. Stronger milk prices can also improve dairy producers' margins for feed buying.
totalfarmmarketing.comEvan DisherSep 18, 2020After 41 past bullish trade events, Milk (Class III) moved a median -0.1% over 5 sessions (49% higher; middle half -1.3% to +8.1%), and +1.1% over 20.
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.
