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USDA data show the US all-milk price for July 2020 was $20.50/cwt, up $2.40 from June. The Wisconsin all-milk price was $22.30/cwt.
CME 40-pound block cheese closed at $1.8275 per pound on August 28, and barrels at $1.43.
Higher July milk prices reflect the earlier cheese rally, but the lower late-August CME cheese levels suggest the gain is fading and milk costs for feed buyers may ease.
midwestfarmreport.comPam JahnkeAug 31, 2020After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
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.
