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CME spot dairy markets fell in the week before April 10, with blocks and barrels converging and nonfat dry milk hitting its lowest level in over two years. Whey dropped below 40 cents per pound, and butter returned to January levels.
USDA's February dairy products report showed cheese, butter and powder output rising year on year.
Lower dairy product prices and weakening international demand for skim milk powder point to weaker milk prices and tighter farm margins. This may reduce dairy herd demand for feed.
highgrounddairy.comMarket Intel TeamApr 10, 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.
