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CME Class III milk futures were mixed, with November up $0.23 at $16.27 and December up $0.13 at $16.01. Cash cheese blocks rose $0.03 to $1.80, while butter fell to $1.88.
The GDT index rose 11.4%, with whole milk powder up 19.8%.
Mixed US milk futures alongside a strong global auction suggest firmer dairy demand internationally, though domestic US prices remain steady.
brownfieldagnews.comJohn PerkinsNov 1, 2016Not 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.
CME Class III futures and cash cheese rose on the day of the GDT surge, which ties the global price rally directly to US milk pricing.
CME Class III futures were already firmer, with November up $0.23, as GDT results came in, which links global dairy strength directly to US milk pricing.
