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CME milk futures were mostly higher on Tuesday, with March Class III up $0.20 to $15.27 and April up $0.12 to $15.03. Cash dairy prices were mixed, with blocks up a cent and a quarter, butter down slightly and nonfat dry milk lower.
Higher forward Class III futures indicate firmer expected milk prices, which supports dairy demand for feed ingredients.
brownfieldagnews.comLarry LeeFeb 26, 2019brownfieldagnews.comNicole HeslipFeb 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.
March Class III up $0.20 to $15.27 on Feb 25 shows continued futures momentum and sentiment-driven buying during the window.
Confirms higher Class III futures on Feb 25 with blocks up, which supports the build-up in dairy futures prices, but the size is modest relative to the move.
