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CME milk futures and cash dairy were mostly lower on Thursday, with March Class III milk down $0.07 to $15.24. Dry whey, blocks and nonfat dry milk were also lower, while butter and some April contracts gained.
USDA reported February Class III averaged $13.89, down seven cents from January.
Lower Class III futures and weaker dry whey and nonfat prices point to softer milk returns, which can reduce dairy producers' feed-buying power.
brownfieldagnews.comLarry LeeFeb 28, 2019Not 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.
