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July Class III milk futures closed up $0.07 at $17.38 on the CME, with September near $18.03. Cash block cheese fell and barrels were unchanged, while Grade AA butter and dry whey were flat.
Nonfat dry milk was down slightly.
Futures strength in Class III points to supportive milk prices, while weaker cash cheese and powder signal limited spot demand. This is routine market movement with no new cause.
brownfieldagnews.comLarry LeeJul 5, 2019brownfieldagnews.comNicole HeslipJul 3, 2019Not 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.
Dated in the move window, it reports July Class III futures at $17.38 and September near $18.03, so it directly reflects futures pricing, though the day's change was small and does not explain a 6.39% jump.
July Class III futures closed at $17.38 with September near $18.03, so the forward curve was still rising during the window even though cash cheese was soft.
