Loading…
An analyst writes that Class III milk prices rebounded from an April low of $15.50/cwt to $18.55 in May, with June expected slightly below $20. Third-quarter 2024 Class III futures have traded at $20-$21/cwt, but the analyst sees more downside than upside risk for the rest of 2024.
Export demand for cheese, driven by US prices falling below global competitors, tightened US stocks and lifted milk prices. With cheese now above $2/lb, the analyst expects export sales to slow, which would weigh on Class III milk and dairy feed demand.
terrainag.comJul 2, 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.
