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Class III milk prices have followed an unusual pattern this year, with early-year buying pushing prices high before a decline. Buyers bought cheese early as a hedge, and high inflation and fuel costs have reduced consumer demand.
Cheese stocks now look heavy despite strong exports.
Excess cheese inventories and softer domestic demand keep cheese and Class III prices under pressure. This is bearish for MILK and reduces the milk price support for dairy producers buying feed.
dairyherd.comRobin SchmahlSep 7, 2022Not 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.
