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Class III milk futures have fallen sharply from record highs a year earlier after production rose in response to high prices and demand was modest. Technical indicators are oversold and funds hold a record net short position, though analysts say a fundamental catalyst is still needed for a rebound.
A record fund short could fuel a sharp short-covering rally if a catalyst appears, which would affect dairy feed buyers' pricing expectations.
farmprogress.comNaomi BlohmJul 1, 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.
