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Ceres raised its butter price forecast through 2023 on strong commercial disappearance and slower cream production, and lowered May and June cheese prices. It also cut Q2 NDM and whey prices, though it raised Q4 NDM prices through 2024.
Firmer butter and a softer cheese and whey outlook pull milk returns in opposite directions, leaving the overall milk price impact mixed.
ceresdrm.comSarah MurphyMay 12, 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.
