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Milk production held steady despite 38,000 fewer cows than a year earlier, rising slightly year over year. Blocks and barrels finished the week lower, while cold storage stocks were down 1% from last month and 7% from last year.
Steady milk output with weaker butter and cheese prices points to softer dairy product values, which can trim dairy producers' feed demand at the margin. Lower cold storage stocks offer some near-term support.
kdmtrading.comkdmadminOct 26, 2024Not 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.
Blocks and barrels finished the week of Oct 26 lower, so weaker spot cheese fed directly into Class III futures declines.
