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Class III milk futures closed higher on the Chicago Mercantile Exchange, supported by the US-Mexico trade deal and USDA's relief package announcement. Blocks, barrels, butter and nonfat dry milk all firmed.
Most forward contracts closed higher.
The trade deal and aid package reduced fears of a prolonged dairy export slump, supporting forward milk prices. Feed buyers should expect firmer dairy-product values in the near term.
brownfieldagnews.comNicole HeslipAug 27, 2018brownfieldagnews.comNicole HeslipAug 28, 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.
Class III futures rallied on the US-Mexico trade deal and USDA relief package news on 2018-08-27, the day before the move, with cheese and other dairy products firming (trade-flow and sentiment mechanism).
Class III futures rallied on 2018-08-27 on the US-Mexico trade deal and USDA relief package, with cheese, butter and NFDM firming, which directly supports the upward move in the window.
Class III futures rallied on the US-Mexico trade deal and USDA relief, with cheese, butter and NFDM firming, which is sentiment and trade-flow support early in the window.
Class III futures rallied on the US-Mexico trade deal and the USDA relief package, with cash blocks, barrels and butter firming; this is the closest sentiment and trade-flow driver, though it is dated two days before the move.
