◂ Event Timeline

Sep 4, 2024MARKETUS

CME Dairy Market Update: Mixed Cash Prices for Cheese, Butter, and Dry Milk

CME cash dairy prices on September 4, 2024 were mixed: dry whey and barrels slipped, blocks rose to $2.23, butter fell to $3.1475, and nonfat dry milk edged up to $1.3550. Spot block cheese hit a new 2024 high before buyers grew quieter.

WHY IT MATTERS

Cheese and milk powder strength reflects tighter milk supply, but cooling buyer interest suggests demand may be limiting further gains.

AFFECTSMilk (Class III)◆

SOURCE
thebullvine.comSep 4, 2024

Price reaction & history

Milk (Class III)◆neutralSO FAR1d 0.0%5d +12.1%20d +13.1%

Not 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.

Linked price moves

Milk (Class III)+9.7%1 period to Sep 4, 202415.8σ
Spot block cheese hit a new 2024 high on Sept 4, which feeds directly into Class III pricing, although other cash prices were mixed.
Milk (Class III)+12.1%5 periods to Sep 9, 20243.3σ
Spot block cheese hit a new 2024 high on Sept 4, which feeds directly into Class III pricing.
Milk (Class III)+9.7%1 period to Sep 5, 202415.2σ
Spot block cheese hit a new 2024 high on Sept 4, supporting Class III futures strength since cheese is the main price driver, although other cash prices were mixed.

Milk (Class III) MILK · GP ▸

——— · ·

Loading…