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Class III milk futures on the CME opened 2020 lower, with January down 20 cents to $17.06. Cash markets for dry whey, blocks, barrels, butter and nonfat dry milk were mostly unchanged to lower.
Lower futures and cash dairy prices reduce the value of milk and dairy products, which weighs on feed demand from dairy producers at the margin.
brownfieldagnews.comNicole HeslipJan 3, 2020brownfieldagnews.comNicole HeslipJan 4, 2020Not 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.
Class III futures opened 2020 lower with cash dairy markets (cheese blocks, barrels, whey, butter, NFDM) flat to weaker, directly reflecting the price decline in the window.
Class III futures opened 2020 lower, with January down 20 cents amid weak cash cheese, whey and butter, directly signaling the start of the selloff.
