# TFM Daily Market Summary 8-5-2022 - Total Farm Marketing by Stewart-Peterson

> Class III milk futures for September fell nearly $6.00 from a June 9 peak and tested the $19.00 level. Cheese values dropped from about $2.40/lb to about $1.75/lb on weak food service demand and rising inventories. Corn futures edged higher in a two-sided session, with Ukrainian grain shipments limiting gains.

- Date: 2022-08-05 · published 2022-08-05T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4576-tfm-daily-market-summary-8-5-2022-total-farm-marketing-by-stewart-peterson
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Falling cheese values and rising stocks weigh on milk prices and dairy demand for feed. Corn's modest gain reflects offsetting supply from Ukraine, so the grain price impact is limited.

## Read by commodity

- CORN: neutral
- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2022-08-08 | 5 | -11.5% | -4.2 | Class III futures slid nearly $6 from the June peak to test $19 as cheese fell from about $2.40 to $1.75/lb on weak food service demand and rising inventories, directly describing the price drop. |
| MILK | 2022-08-07 | 5 | -11.5% | -5.0 | Class III futures fell nearly $6 from the June peak, and cheese dropped from about $2.40 to $1.75/lb on weak foodservice demand and rising inventories, which directly explains the week's sharp price decline. |

## Sources

- totalfarmmarketing.com: https://www.totalfarmmarketing.com/tfm-daily-market-summary-8-5-2022/

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