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A StoneX analyst says US milk production in May rose 4.6% year over year, or about 5.9% on a component-adjusted basis, while bottled milk sales lag. CME block cheese fell from about $1.80 in March and April to below $1.50 by mid-June, and the writer suspects weaker demand is also contributing.
Strong milk supply and softening demand point to continued downward pressure on dairy product prices, reducing milk-based feed ingredient values.
hoards.comNate Donnay, StoneX Group Inc.Jun 28, 2021Not 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.
