Loading…

CME spot butter fell 19 cents to $2.045 per pound, its lowest level in nearly four years. Commentary from USDA Dairy Market News suggests butter stocks are starting to build as cream supply stays heavy.
Spot cheese finished slightly higher and nonfat dry milk was flat at $1.26.
Heavy milk output and rising butter stocks point to weaker component values and lower Class III and Class IV milk prices for producers.
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.