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Class III futures for April through December slipped about 40 cents in March 2021 trading, and Class IV futures fell by a similar amount. The Global Dairy Trade index fell 3.8 percent in its first downturn since November 2020.
Rabobank forecasts Class III prices rising through 2021, while a container shortage has hurt US dairy exports.
Weaker futures and a falling GDT index point to lower milk revenue for farmers, while shipping constraints limit export demand for dairy and the feed inputs tied to it.
hoards.comCorey GeigerMar 24, 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.
