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Class III milk was $18.52 in April, fell to $13.77 in July, and rebounded to $17.19 in August. It is expected to be near $18.35 in September, supported by stronger cheddar block and barrel prices.
Domestic cheese and butter demand is firm, while dairy exports remain below last year's levels.
Stable Class III near $18 supports steady US dairy-feed demand for the rest of 2023, while weaker exports cap upside.
cheesereporter.comSep 22, 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.
