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Barrel cheese prices rose 43 cents over two weeks on strong buying interest despite ample barrel supplies, with blocks rising less because they are tighter. The author notes a similar rally in September-October 2022 was followed by a 72-cent decline, and fundamentals have not clearly changed.
The analysis suggests the recent cheese rally may be speculative buying that reverses quickly, which could weigh on Class III milk prices and dairy farm income.
dairyherd.comRobin SchmahlMar 21, 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.
