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Spot block cheese fell about a third since late March to $1.40 per pound as of June 21, while cheese futures declined only about 20%. The spread between spot and futures has persisted since the end of the first quarter.
The wide spot-futures gap suggests futures may need to converge lower or spot prices may rebound, creating uncertainty for dairy product pricing and feed demand.
bloomberg.comNazmul AhasanJun 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.
