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Strong seasonal cheese buying and tight fresh cheese supply pushed cheese prices to levels last seen in November 2015, even as US cheese inventories hit their highest since 1985. Class III milk futures set a new contract high at US$17.12 for September.
Record cold storage stocks are bearish, but tight fresh supply is lifting spot prices, a conflict analysts expect cannot last long. Milk prices are likely to stay firm in the near term.
farmersweekly.co.nzGuest writerJul 3, 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.
