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On Thursday, May 4, 2023, CME Class III milk futures fell, with May at $16.68 and June at $17.06. Spot cheese blocks dropped 2.5 cents to $1.665, and cheese barrels fell 3.75 cents.
Butter was unchanged at $2.4425.
Lower cheese and milk futures reduce dairy income and signal softer demand for dairy-based feed ingredients.
brownfieldagnews.comLarry LeeMay 4, 2023brownfieldagnews.comLarry LeeMay 5, 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.
Class III futures fell on May 4 as cheese blocks and barrels dropped, showing the daily cheese-led selling pressure within the window.
May 4 Class III futures fell as spot cheese blocks and barrels dropped, adding to the weekly decline through weaker cheese prices.
