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CME spot cheese fell after a two-week rally, with blocks down 25 cents on three loads traded. Butter was the most heavily traded spot product, while nonfat dry milk hit a two-year low near $1.1475 per pound and whey eased.
Cheese production exceeding demand and weak powder demand point to lower dairy product values, which reduces milk prices and the dairy-side demand for feed ingredients.
highgrounddairy.comCara MurphyApr 3, 2023Not 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.
