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The July 2023 Class III milk price averaged $13.77, down $1.14 from June and $8.75 from July 2022, the lowest since May 2020. Spot cheese and butter buying has lifted futures, but traders are cautious because futures have fallen while cash prices held steady.
Seasonal demand ahead and firmer cheese and butter could support milk prices in the second half of the year. However, the weak futures response to cash prices suggests the rebound may not hold.
en.edairynews.comDamián MoraisAug 10, 2023Not 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.
