# Early Morning Update - August 29, 2024

> StoneX's dairy team reports that October Class III milk futures traded limit down after a rally to new contract highs, with block cheese hitting a 2024 high of $2.14. Bullish factors cited include rising global dairy markets, worries about US and EU milk supplies, and anecdotal reports of bird flu in California.

- Date: 2024-08-29 · published 2024-08-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/28945-early-morning-update-august-29-2024
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Futures are volatile as spot cheese and milk prices swing, which matters for feed buyers because tight milk supplies and higher dairy prices can support dairy demand for feed and byproducts such as DDGS and milk-replacer inputs.

## Read by commodity

- MILK: bullish ▲

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/early-morning-update---august-29,-2024-1519170/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.