◂ Event Timeline

Jul 5, 2018MARKETUS

CME dairy markets continue downward slide

CME milk futures and cash dairy prices kept falling on Thursday. USDA and Cornell announced June minimum class prices, with Class III at $15.21 per hundredweight.

WHY IT MATTERS

Lower Class III and Class IV prices reduce milk revenue and the value of dairy-based feed ingredients. The move is routine market price action with no new supply or demand shock.

AFFECTSMilk (Class III)▼

SOURCE
brownfieldagnews.comLarry LeeJul 5, 2018

Price reaction & history

Milk (Class III)▼bearishSO FAR1d -5.8%5d -6.8%20d -2.6%

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.

Linked price moves

Milk (Class III)-5.8%1 period to Jul 5, 2018-7.9σ
CME Class III futures and cash dairy prices kept falling on July 5, the day of the move, directly reflecting selling pressure in the market.
Milk (Class III)-7.0%5 periods to Jul 9, 2018-3.2σ
CME futures and cash prices kept sliding on July 5, contributing to the five-day drop.
Milk (Class III)-7.1%5 periods to Jul 10, 2018-3.1σ
CME futures and cash prices continued sliding in the window, directly reflecting the selling pressure behind the move.

Milk (Class III) MILK · GP ▸

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