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MRV's commentary reports that butter, cheese, nonfat dry milk and dry whey prices all declined month over month. Butter stocks were at their highest February level since 2021, with extra supply from strong butterfat output and imports.
Rising stocks and falling product prices point to continued downward pressure on 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.