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MRV reports butter eased to $2.50 per pound and cheddar blocks rose 3.3 cents on the week to $1.74. US milk production is up 3.4% from last year, and June milk solids exports rose 15%.
Rising domestic milk output is balanced by firmer cheese prices and strong exports, which supports dairy demand and limits downside for milk prices.
Not 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.