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Milk futures and most cash dairy prices rose on the CME on Monday. August Class III milk gained $0.43 to $17.69, and cheese blocks rose to $1.96.
Butter held at $2.68 and nonfat dry milk slipped slightly.
Higher Class III futures signal modestly firmer dairy product values, which can support milk prices for producers. Price moves of this size are routine and do not change the feed outlook much.
brownfieldagnews.comLarry LeeJul 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.
On Monday July 31, August Class III futures gained $0.43 to $17.69 as cheese blocks rose to $1.96, which is the closest same-window price action to the large one-day move, though its size is small compared with 26.65%.
Monday 7/31 CME rally with August Class III up $0.43 to $17.69 and cheese blocks rising to $1.96 is direct evidence of the futures price surge within the window (demand/cheese-driven rebound).
