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MRV's market commentary says milk prices have been strong throughout 2022 on improved exports, global demand and slow milk production. Butter, block and barrel cheese prices fell week over week by 3.1, 5.1 and 4.9 cents, and MRV expects fluid milk prices to ease slightly for the rest of the year.
Butter production fell 0.7% year over year in May, with butter inventories 23% below the prior year in April.
Weekly cheese and butter price declines point to softer near-term milk prices, while tight butter supply continues to underpin the overall price level.
mrvdairysolutions.comJul 13, 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.
