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The USDA set the June Class III milk price at $17.21 per cwt, down $1.75 from May, and the Class IV price at $16.35, up 19 cents. May cheese output was 1.156 billion pounds, up 1.8% from April and 5.0% above a year earlier.
A falling Class III price and rising cheese output signal weaker milk values, which limits dairy demand for feed ingredients.
capitalpress.comLEE MIELKEFor the Capital PressJul 6, 2021After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
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.
