# Milk Hits Bottom; Rebound Ahead - EDairy News English

> The May Class III benchmark fell to $12.14 per cwt, its lowest level in 11 years, after COVID-19 disrupted milk demand. Cash block cheese hit a record $2.5850 per pound at the CME, and Class III futures pointed to a rebound to $20.14 for June. The May Class IV price was $10.67, its lowest since 2009.

- Date: 2020-06-10 · published 2020-06-10T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/4254-milk-hits-bottom-rebound-ahead-edairy-news-english
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Record cheese prices are lifting milk futures from the COVID-driven low. The sharp price swings show how fragile the demand recovery is for dairy markets.

## Read by commodity

- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2020-06-09 | 5 | +69.1% | 14.6 | Record cash block cheese at $2.585 and futures pointing to a $20 June Class III show the rebound from deeply depressed levels, which is consistent with the sharp percentage gain. |

## Sources

- en.edairynews.com: https://en.edairynews.com/milk-hits-bottom-rebound-ahead/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.