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Wisconsin dairy outlook notes that June dairy exports rose for nonfat dry milk, whey and butter while cheese exports fell 13%. The August Class III price is expected near $16, down from $18.96 in May, as cheese and dry whey prices fell.
Cheese and whey prices recovered somewhat by late August.
Stronger export demand for butter and powder supports dairy prices, but the lower Class III level reflects weaker cheese and whey values. Milk price direction depends on whether export gains offset domestic softness.
farmprogress.comFran O'LearyAug 30, 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.
