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Milk futures and most cash dairy prices rose on the CME on Monday. October Class III milk gained 45 cents to $22.20, and November was up 75 cents.
Cheese blocks rose to $2.00 and butter to $3.1775, while nonfat dry milk fell slightly.
This is a routine price wrap with no new supply or demand shock. Firmer futures support milk revenue expectations for dairy producers.
brownfieldagnews.comLarry LeeOct 3, 2022Not 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.
On Oct 3 October Class III futures jumped 45 cents and November 75 cents as cheese blocks rose to $2.00, which directly adds to the 5-day gain.
CME Class III futures and cheese blocks rose on Oct 3 (Oct +45c, Nov +75c), showing upward demand/price momentum just before the move, though the size is far smaller than 11.5%.
