# CME milk futures, cash dairy down Thursday - Brownfield Ag News

> 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.

- Date: 2023-05-04 · published 2023-05-04T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4115-cme-milk-futures-cash-dairy-down-thursday-brownfield-ag-news
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower cheese and milk futures reduce dairy income and signal softer demand for dairy-based feed ingredients.

## Read by commodity

- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2023-05-07 | 5 | -11.6% | -4.2 | Class III futures fell on May 4 as cheese blocks and barrels dropped, showing the daily cheese-led selling pressure within the window. |
| MILK | 2023-05-08 | 5 | -11.6% | -4.0 | May 4 Class III futures fell as spot cheese blocks and barrels dropped, adding to the weekly decline through weaker cheese prices. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/cme-milk-futures-cash-dairy-down-thursday-2/
- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/cme-milk-futures-lower-cash-dairy-mixed-friday-4/

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