# This Week In Dairy 05-05-2023 - Total Farm Marketing by Stewart-Peterson

> June Class III futures closed at $16.99, down 29 cents on the week, with spot cheese near an 18-month low. June Class IV rose 22 cents to $18.35 and spot butter hit a five-month high. July corn futures gained 11.5 cents to $5.965 on the week, and USDA data showed March cheese output 0.2% below a year earlier.

- Date: 2023-05-05 · published 2023-05-05T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4114-this-week-in-dairy-05-05-2023-total-farm-marketing-by-stewart-peterson
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Weak cheese and Class III values point to softer milk prices, while firmer corn futures raise feed grain costs for buyers.

## Read by commodity

- CORN: bullish ▲
- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2023-05-07 | 5 | -11.6% | -4.2 | June Class III futures fell 29 cents on the week with spot cheese near an 18-month low, directly reflecting weak cheese pricing that drives Class III. |
| MILK | 2023-05-08 | 5 | -11.6% | -4.0 | Weekly summary shows June Class III down 29 cents with spot cheese near an 18-month low, directly reflecting the cheese-driven weakness in Class III futures. |

## Sources

- totalfarmmarketing.com: https://www.totalfarmmarketing.com/this-week-in-dairy-05-05-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.