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Class III milk firmed on stronger dry whey futures while cheese was stable on thin trade. Butter fell and nonfat dry milk moved lower, and quiet seasonal demand was attributed to end-users working off inventory bought earlier in the year.
Weak spot dairy demand and lower NFDM point to softer milk and dairy ingredient prices, with a possible restocking bounce in early 2024.
stonex.comDairy TeamNov 3, 2023Not 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.
