# Dairy Market Update June 2022 | MCT Dairies, Inc.

> 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.

- Date: 2022-06-30 · published 2022-06-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4553-dairy-market-update-june-2022-mct-dairies-inc
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weaker dairy product prices and softening demand signal lower milk value ahead, which can pressure milk prices and dairy-sector feed purchasing.

## Read by commodity

- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2022-06-29 | 1 | -6.3% | -10.7 | 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. |
| MILK | 2022-06-28 | 1 | -6.3% | -11.4 | 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. |
| MILK | 2022-07-04 | 5 | -9.2% | -4.3 | Spot cheddar blocks and barrels fell sharply through late June on softer export demand, directly lowering the cheese price basis for Class III. |

## Sources

- mctdairies.com: https://www.mctdairies.com/dairy-markets-june-2022/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.