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MCT Dairies reports that spot CME cheese prices began softening in March. US cheese exports in January topped 100 million pounds, a record start to a year, as foreign buyers front-ran expected US tariff increases.
Strong export demand helps support US cheese and milk values, but the export surge may fade once the tariff front-running window closes.
After 18 past neutral trade events, Milk (Class III) moved a median -0.4% over 5 sessions (39% higher; middle half -2.9% to +1.1%), and -3.0% over 20.
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.