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Milk futures on the CME ended mostly higher Thursday, with June Class III up 36 cents to $18.90. The gains followed a lower dollar and a butter-buying spree on the cash market, which lifted butter and barrel prices.
Higher Class III futures signal firmer milk revenue expectations for dairy feed buyers. Routine moves like this carry little independent supply or demand news.
brownfieldagnews.comLarry LeeMay 3, 2024brownfieldagnews.comNicole HeslipApr 29, 2024brownfieldagnews.comNicole HeslipMay 2, 2024brownfieldagnews.comNicole HeslipApr 30, 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.
June Class III futures gained 36 cents on a weaker dollar and a butter-buying spree, adding to the price momentum through the window (the dating is inconsistent, but the mechanism is relevant).
