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Class III milk prices rose to $21.61 in October and are expected near $23 in November, a record for the month. Forecasters expect a sharp drop in December toward or below $16 as block and barrel cheese prices fall below $2 per pound in mid-November.
A projected Class III collapse in December, driven by falling cheese and whey values, signals lower dairy returns and reduced producer feed purchasing power in the coming months.
en.edairynews.comDamián MoraisNov 25, 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.
Forecast of a sharp December Class III drop as block and barrel cheese fell below $2 describes the mechanism of the futures collapse from record-high November levels.
