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Class III milk futures for April through July rose 60 cents since April 1 to $16.92 per hundredweight, supported by reports of stronger cheese demand. Cheddar block prices gained 12 cents.
USDA put the March Class III price at $16.34, up 26 cents from February but $1.76 below a year earlier.
Stronger cheese demand supports Class III milk prices, which can support dairy-related feed demand. The gain is modest against a year-earlier price level well below the current one.
centerfordairyexcellence.orgApr 12, 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.
