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Class III milk futures rose on the CME on Friday, with August up $0.28 to $17.26. Cheese blocks gained to $1.9075 and cheese barrels to $1.7625.
Butter was down slightly and nonfat dry milk edged higher.
Firmer futures and cheese prices modestly support dairy producer returns. The move is a routine weekly price update with limited impact on feed demand.
brownfieldagnews.comLarry LeeJul 28, 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.
Friday 7/28 CME gains in Class III futures and cheese blocks and barrels reflect the cheese-led rebound from depressed levels during the 5-day window.
