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Dairy prices have nearly doubled from April lows, with June milk futures reaching about $20 on June 3 after a $9 rally. The rally is driven by a spot cheese market that pushed block and barrel prices sharply higher.
Deferred futures trailed the nearby contract.
Cheese demand from home cooking and restaurant restocking is supporting milk prices. Lagging deferred contracts indicate traders doubt the strength will last through later months.
proag.comJun 8, 2020Not 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.
Confirms that prices nearly doubled from the April lows on a spot cheese-led rally, reinforcing the cause, though it was published after most of the move.
