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California dairymen are encouraged by a June rally in milk, butter and cheese futures on the Chicago Board of Trade. Butter rose to an average of $1.27 per pound in the second week of June, after a multi-year downtrend.
The rebound from lows not seen since 2009 may support milk prices, but industry officials remain cautious about whether the rally will hold. Rising dairy product prices lift feed-buyer sentiment for dairy demand.
thebusinessjournal.comThe Business Journal StaffJun 24, 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.
A June rally in milk, butter and cheese futures reflects building upward momentum and short-covering from multi-year lows ahead of the window.
