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CME closing trade shows November Class III milk down $0.11 at $17.29, with cheese blocks and barrels lower. Butter rose $0.1075 to $3.30 while nonfat dry milk was unchanged at $1.1975.
Lower cheese and Class III futures reflect softer dairy demand, while stronger butter prices support butterfat values; the net effect on feed demand is limited.
brownfieldagnews.comLarry LeeOct 30, 2023brownfieldagnews.comLarry LeeOct 31, 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.
