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Milk futures on the CME ended the week lower, with July Class III down a penny to $24.41 and August down 75 cents to $21.75, while cash cheese slid. Blocks fell 4.5 cents to $2.54 and butter rose slightly to $1.73.
The National Milk Producers Federation also noted House-passed ag appropriations provisions benefiting dairy.
Weaker cheese and softer global dairy demand pressure milk prices, which affects dairy-by-product feed economics and sentiment for dairy feed demand. The moves are incremental and largely a routine market wrap.
brownfieldagnews.comNicole HeslipJul 24, 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.
