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CME milk futures rose on Oct. 22, with October Class III up 15 cents to $21.63 and November at $21.44.
Cash block cheddar closed at $2.7725 and barrels at $2.4025, while butter and nonfat dry milk slipped. USDA data showed September cheese stocks down 1% from August and butter inventories up 18% year over year.
Routine futures and cash moves show a firm but mixed dairy complex, with cheese supported and butter and powder softer. The price effect on feed demand is limited to normal market movement.
brownfieldagnews.comNicole HeslipOct 22, 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.
