Loading…
KDM reported that June Class III futures fell about $2 in the week after the April production report, which showed national output down 0.4% and cow numbers 74,000 lower than a year earlier. Weekly cold storage data was slightly higher, which added to the selloff.
Cheese demand remains strong, but high domestic prices are limiting exports.
Sharp futures declines after the report signal weaker near-term milk values despite bullish production figures. Feed demand from dairy herds may soften if prices stay under pressure.
kdmtrading.comkdmadminMay 27, 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.
