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In Class III trade on the CME, May milk futures fell $0.14 to $13.03 and June dropped $0.27 to $12.99 amid continued bearish supply and demand. Spot cash cheese barrels slipped to $1.40 and blocks to $1.36, while butter and nonfat dry milk also eased.
Heavy cheese production and rising inventories point to continued softness in dairy product and Class III milk prices, which lowers feed buyers' dairy-sector demand signals.
brownfieldagnews.comJohn PerkinsMay 2, 2016Not 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.
