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Progressive Dairy's column reviews the narrowing gap between Class III and Class IV milk prices and the shift to the average-of-plus-74-cents Class I formula. It expects the November Class IV price to exceed Class III and flags possible future cheese capacity growth pressuring Class III prices.
Shifts in the Class III versus Class IV spread change which dairy products are favored, affecting cheese versus butter demand and the outlook for milk price direction.
agproud.comDave NatzkeNov 24, 2021Not 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.
