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Chicago Mercantile Exchange milk futures and cash dairy markets fell in the week ending March 22, 2021. March Class III milk was down a penny at $16.24, with May and June each about 21-22 cents lower, and blocks and barrels also declined.
USDA data showed cheese stocks above 1.4 billion pounds and butter inventories up 17 percent year on year.
Heavy dairy product stocks and softer cash prices weigh on Class III milk values, which lowers the cost signal for milk-based feed inputs and dairy farm margins.
brownfieldagnews.comNicole HeslipMar 23, 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.
