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CME 40-pound cheddar cheese averaged $2.14 in early September after falling to $1.58 in August, following a record $3.00 in July. Cheddar barrels averaged $1.62 in September so far.
Class III milk was expected near $16.25 for September after $19.77 in August.
Volatile cheese prices drive Class III milk returns, which affects dairy producer margins and demand for dairy-related feed. The trend points to continued price swings without a clear direction.
eu.wisfarmer.comSep 21, 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.
