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CME spot cheese block prices fell nearly 30 cents from Monday to Thursday in the week of November 2-6, 2020, converging toward barrel prices near $2.50. Butter closed Grade AA at $1.43 with holiday cream demand strong, while milk supply was plentiful and producers began trimming output.
Softer cheese spot prices and easing milk production point to weaker dairy product values heading into late 2020, which lowers the price outlook for dairy-related feed ingredients demand.
dairyproducer.comTanya EadieNov 9, 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.
