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Cheese production in the US fell 1.4% year on year in June 2024 to 1.16 billion pounds, with cheddar output down 9%. HighGround analysts expect cheese prices to range from $1.80 to $2.00 per pound through October, with blocks at $1.84.
Falling cheddar output tightens cheese supply and supports Class III milk prices, which benefits dairy farm margins.
dairynews.todayEkaterina PetrovaAug 23, 2024After 237 past bullish report events, MILK moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
