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On March 29, 2023 CME spot cheese fell sharply, with cheddar blocks down 9.75 cents to $1.935/lb and barrels down 4.5 cents to $1.905/lb, while butter rose to $2.3975. Class III futures were mixed, with March up a penny to $18.06 and April down 2 cents to $19.50, and corn and soybeans gained on cold, wet planting worries and Western wheat belt dryness.
Cheese weakness pulls down Class III milk values, pressuring dairy farmer margins and feed demand for dairy rations. Grain rallies on weather concerns add upward pressure on feed costs.
dairyherd.comMar 29, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
