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Class III milk futures rallied early in May as cheese prices rose above traders' expectations for the spring flush. Traders also removed the discount to cash prices, which put a premium back into the futures curve.
Higher cheese values lift the Class III milk price that dairy farms receive, and a move back to a futures premium signals firmer milk prices ahead. Lower feed costs would support dairy margins if the rally holds.
dairyherd.comRobin SchmahlMay 14, 2025Not 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.
