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Dairy product prices strengthened through April, with CME cheddar blocks rising from a low of $1.74 to about $1.79 and cheddar barrels climbing to $1.80. Butter reached $1.79 and nonfat dry milk $1.24 per pound.
The April Class III milk price is projected near $17.70, up from $16.15 in March.
Higher cheese, butter and whey values lift the Class III and Class IV milk price formulas, improving returns for dairy producers and supporting feed demand from dairy herds.
farmprogress.comFran O'LearyApr 29, 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.
