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On March 27, 2023 CME Class III futures fell, with April down 17 cents to $19.76 and May down 10 cents to $19.02. The cash dairy market recorded no trades, with cheese blocks at $2.10, barrels at $1.9625, butter at $2.345, and dry whey at $0.445.
Lower futures and no cash trade signal soft near-term milk pricing, which can reduce farm-level milk revenue and dairy feed demand expectations.
brownfieldagnews.comLarry LeeMar 27, 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.
