Loading…
Plourd notes that block cheddar fell from $2 per pound before the pandemic to about $1 in late April, then reached a record $3 in July. It dropped toward $1.50 and then rose to $2.50-plus in early October.
He says dairy has been among the most volatile commodities in 2020, and that $24 Class III prices did not translate to $24 milk checks for most producers.
Continued volatility in cheese and Class III prices adds uncertainty for dairy producers' feed purchasing and herd decisions. The commentary describes past moves without a new market-moving cause.
hoards.comPhil PlourdOct 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.
