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Ever.Ag broker Kathleen Wolfley said Class III milk futures have been choppy, hitting new life-of-contract highs for second-half futures before retracing to late-May levels. Second-half averages are around $20/cwt, with concern over a hot summer and tight cattle and milk supply.
Tight milk supply and weather risk support dairy futures, while uncertain export demand at current prices could cap gains. Feed buyers should watch dairy-cow herd size and dairy-feed demand.
midwestfarmreport.comCharitee SeebeckerJun 30, 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.
