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CME milk futures rose on Tuesday on firmer cash trade and lower grain prices. October Class III gained 24 cents to $16.90, and corn, soybeans and soybean meal all declined, with December corn down 8.25 cents to $5.34.25 and soybean meal down $1.90 to $343.10 per ton.
Lower corn, soybean and soybean meal prices reduce feed costs for livestock buyers and reflect ample grain supplies. Stronger milk futures improve dairy margins, though the price effect is modest.
thebullvine.comSep 1, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
CME milk futures rose on 2021-08-31 on firmer cash dairy trade and lower grain prices (lower feed cost outlook), with October Class III up 24 cents, directly tied to the market move though smaller than the 4.69% move.
