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Class III milk futures on the CME rose across the board, with June up $0.14 to $16.70 and July up $0.18 to $17.26. Cash cheese, butter and nonfat dry milk also firmed modestly.
Reports showed milk output down in the UK and France and up in Ireland, and the USDA dairy index for April fell 4.6 percent from March.
Expectations of improving demand and mixed European output support higher Class III futures, though the monthly USDA index decline tempers the rally.
brownfieldagnews.comMay 30, 2017brownfieldagnews.comJohn PerkinsMay 31, 2017brownfieldagnews.comJohn PerkinsJun 1, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Class III futures rose across the board on 5/31 (June +$0.14, July +$0.18) with firmer cash cheese, butter and NDM and weaker European output, directly feeding the run-up into 6/1, though the size of this gain is small versus a 6.73% move.
