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CME milk futures were mostly higher on Thursday, while cash dairy was steady to higher. The unusual trend of cheese barrels trading above blocks ended, with blocks back at a premium.
Forty-pound blocks rose 3.75 cents to $1.4725, and nonfat dry milk was steady at $1.1625.
Higher cheese and futures prices improve the outlook for milk returns, which may support dairy herd feeding programs. The moves are modest and reflect routine trading rather than a new supply shock.
brownfieldagnews.comLarry LeeMar 14, 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.
