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CME milk futures were mostly higher on Tuesday, led by March Class III milk up 20 cents to $15.27, extending a rally of nearly 80 cents since February 20. Class IV was mixed, and cash dairy prices were mixed, with blocks up and butter and nonfat dry milk slightly lower.
A sustained rally in Class III futures signals firmer milk values, which supports dairy demand for feed and dairy-linked ingredients.
thebullvine.comAndrew HuntFeb 25, 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.
Reports March Class III futures rallying nearly 80 cents since Feb 20 to $15.27, directly describing the price move within the window.
Reports of March Class III futures rallying about 80 cents since Feb 20 show strong upward momentum heading into the move window, which is consistent with a sentiment and technical buying contribution, though the 20-cent daily gain is far smaller than the 9.83% move.
