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Class III milk futures were mixed, with May down $0.06 at $12.87 and July up $0.18 at $13.33. Spot cash cheese fell to its lowest level since March 2010, with barrels at $1.315 and blocks at $1.305.
Cheese prices at multi-year lows signal oversupply in dairy markets, which keeps milk prices and dairy-sector feed demand weak.
brownfieldagnews.comJohn PerkinsMay 5, 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.
Spot cash cheese fell to its lowest level since March 2010 on May 5, and cheese is the main driver of Class III futures, so this directly pressures the price.
