# Valley dairymen cheer rising commodity prices - The Business Journal

> 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.

- Date: 2016-06-24 · published 2016-06-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4752-valley-dairymen-cheer-rising-commodity-prices-the-business-journal
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

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.

## Read by commodity

- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2016-07-01 | 5 | +14.0% | 8.8 | A June rally in milk, butter and cheese futures reflects building upward momentum and short-covering from multi-year lows ahead of the window. |

## Sources

- thebusinessjournal.com: https://thebusinessjournal.com/valley-dairymen-cheer-rising-commodity-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.