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CME spot cheddar blocks fell from $2.375 on May 18 to $2.09/lb by June 27, and barrels dropped 30.75 cents. Spot NFDM and butter also retreated from June 9 peaks amid softer export demand.
Weaker dairy product prices and softening demand signal lower milk value ahead, which can pressure milk prices and dairy-sector feed purchasing.
mctdairies.comJun 30, 2022Not 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.
Spot cheddar blocks and barrels fell sharply through June 27 on softer export demand, and cheese is the main driver of Class III, so this weakness plausibly fed the futures drop.
Spot cheddar blocks and barrels fell sharply from mid-May highs to late June amid softer export demand, a direct driver of Class III (cheese/whey-based) price weakness leading into June 28.
Spot cheddar blocks and barrels fell sharply through late June on softer export demand, directly lowering the cheese price basis for Class III.
