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CME milk futures and most cash dairy prices fell again to close the week. A USDA report showed May total cheese output up 1.7% and butter production at 168 million pounds.
Higher cheese output in the USDA data adds supply to the market and supports the downward price trend in dairy. Milk and dairy byproduct prices remain under pressure.
brownfieldagnews.comLarry LeeJul 6, 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.
CME Class III futures and cash dairy prices fell again on July 6, directly reflecting the weekly decline in the window.
CME milk futures and cash prices fell again, and higher cheese output added supply pressure, contributing to the weekly decline.
