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Milk futures on the CME traded higher on Wednesday as grains moved lower and cash dairy markets rose. Class III futures were up across the curve, with May at $19.22 and June at $19.64.
Spot dry whey, blocks, barrels, and butter also ticked higher.
Higher Class III futures and cash dairy prices support milk revenue for producers and signal firmer dairy demand. Lower grain prices ease feed costs for dairy operations.
brownfieldagnews.comNicole HeslipApr 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.
Class III futures were rising across the curve on April 28-29 on stronger spot cheese, whey and butter, which is the momentum that led into the large May 4 move.
