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Class III milk futures rallied sharply last week, with limit gains in the nearby contracts. Dan Basse of AgResource pointed to the COVID stimulus bill, strengthening New Zealand dairy auction prices, and possible government purchases as support.
Stronger Class III futures signal higher expected US cheese and milk values, which can lift dairy-based feed ingredient prices and affect dairy producer feeding decisions.
rrfn.comCarah HartDec 28, 2020Not 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.
