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Class IV, butter and nonfat dry milk price limits were expanded after NFDM spot hit a new 2024 high and June futures went limit up. Class III and cheese firmed on solid volume, while butter closed mostly lower on spot loads.
Strength in NFDM and tight milk powder supply support dairy product values, though butter weakness signals limits to rallies and possible overbought conditions.
stonex.comDairy TeamSep 4, 2024Not 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.
Sept 4 update: NFDM spot hit a 2024 high, Class IV limits were expanded and Class III firmed on solid volume, which is direct same-day evidence of the rally.
On Sept 4 expanded limits and a new 2024 NFDM high show strong dairy futures momentum, with Class III and cheese firming on solid volume, which likely fed into the next-day surge.
Class III and cheese firmed on solid volume while dairy limits expanded, showing strong momentum and sentiment in the week.
