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The Class III milk price rebounded in August 2018 after falling in July on retaliatory tariffs from Mexico, China and Canada. Butter, barrel cheese and block cheese prices all recovered from their July lows.
A University of Wisconsin economist expected the August Class III price to reach about $15.
Dairy prices had overreacted to the tariff threat, and the rebound in cheese and butter lifts farm milk income. Feed buyers face firmer dairy-product prices, though stock levels and uncertain trade outlook limit the upside.
farmprogress.comFran O'LearyAug 27, 2018Not 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.
Butter, barrel and block cheese prices recovered from July lows, lifting the August Class III price toward $15 and driving the rebound.
Class III price rebound in August, with butter and block/barrel cheese recovering from July lows, supports a sharp upward move in Class III prices.
Cheese and butter prices recovered from July lows and August Class III was expected near $15, indicating spot-driven upward momentum.
The August Class III price rebounded as cheese and butter recovered from July lows, which points to improving fundamentals and supports the upward move, though the article is dated before the window.
