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Most milk futures and cash dairy prices spiked higher on the CME on Tuesday. January Class III milk rose 75 cents to $20.75, with nearby months up similar amounts.
Cheese blocks, butter and nonfat dry milk also closed higher or unchanged.
Sharp gains in Class III futures and cash dairy signal stronger milk values, which raise dairy farm margins and the cost of dairy-based feed ingredients for buyers.
brownfieldagnews.comLarry LeeJan 4, 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.
Jan 4 CME spike (Jan Class III up 75 cents to $20.75) is a direct price move within the 5-day window, driven by cheese, butter and NDM strength.
CME report of Jan 4 spike in Class III futures (+75 cents to $20.75) and cash dairy prices is a direct price move within the window.
