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Spot cheese prices in blocks and barrels rose about 33% from late-March lows on strong export demand. Class III futures rose above $20/cwt from just under $17 in mid-April, narrowing the gap with Class IV.
Strong export demand and tighter milk supply lifted cheese and Class III milk prices, improving producer margins. The rally supports higher milk values and demand for dairy feed.
thebullvine.comAndrew HuntMay 20, 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.
