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CME spot butter dropped 13.5 cents and cheese blocks fell 5 cents on August 27, with barrels slightly lower. Analysts expect September milk checks to fall by about $0.25 to $0.50 per hundredweight.
The report cites U.S. milk output up 3.4% year over year.
Lower butter and cheese values and rising milk supply reduce milk income over feed, which may tighten dairy farmer feed budgets and cut herd-level demand for feed.
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.