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Class III milk futures and cash dairy prices fell at the CME ahead of the July 4 holiday. The Global Dairy Trade index also dropped 5%, with whole milk powder down 7.3%.
Lower dairy prices reduce milk revenue and the value of dairy byproducts used in feed. This is routine price movement with no new cause identified.
brownfieldagnews.comLarry LeeJul 3, 2018Not 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.
Reports CME Class III futures and cash dairy prices tumbling into the July 4 holiday alongside a 5% GDT drop, directly describing the move window.
Class III futures and cash prices tumbled on July 3 alongside a 5% GDT drop, signaling weak global demand and sentiment.
Class III futures and cash prices fell at the CME while the GDT dropped 5%, a direct price decline and weaker global sentiment within the move window.
CME Class III futures fell ahead of the July 4 holiday and GDT dropped, setting up the lower base and negative sentiment carried into July 5 trading.
