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Milk futures on the CME started the week mostly lower ahead of USDA's monthly reports, with January Class III at $20.30 and March down 20 cents to $21.55. Cash butter fell 8.75 cents to $2.8475 and blocks dropped about 1 cent to $1.795.
USDA data showed record cheese stocks of more than 1.4 billion pounds in December.
Record cheese inventories point to ample supply that could cap dairy price gains and reduce the cost pressure on dairy ingredients. Routine weekly moves offer limited new information on the price trend.
brownfieldagnews.comNicole HeslipJan 24, 2022Not 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.
