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The CME Dairy Market Report for October 28, 2024 showed Class III and cheese futures moving mixed on reduced selling pressure. Cheese held near $1.90, NFDM gained on Chinese demand, and spot butter stayed in the mid-$2.60s on low volume.
Stable cheese and mixed Class III futures indicate no major shift in dairy demand for feed. Stronger NFDM demand from China is a modest positive for dairy processing, with limited direct impact on feed grain prices.
thebullvine.comAndrew HuntOct 29, 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.
