◂ Event Timeline

Jul 7, 2020REPORTUS

Mielke: Benchmark price soars $8.90

USDA announced the June Class III benchmark at $21.04/cwt, a record monthly rise of $8.90 from May. Global Dairy Trade's weighted average jumped 8.3% at its latest auction, led by whole milk powder up 14%.

Class III futures for July were trading near $23.25.

WHY IT MATTERS

A sharp rebound in milk and global dairy prices reflects tighter supply after production cutbacks and strong demand, supporting dairy-related feed demand and milk price levels.

AFFECTSMilk (Class III)▲

SOURCE
capitalpress.comLEE MIELKEFor the Capital PressJul 7, 2020

Price reaction & history

Milk (Class III)▲bullishSO FAR1d +0.8%5d +4.7%20d +5.5%

After 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.

May 7, 2019Lee Mielke: Benchmark price up 92 cents | Capital Press-1.2%
Oct 5, 2021Lee Mielke: Benchmark price up 58 cents | Capital Press-1.5%
Feb 8, 2022Lee Mielke: Benchmark jumps $2.02 | Capital Press+0.1%
Mar 15, 2022Lee Mielke: Milk estimates lowered again | Capital Press-0.0%
Jul 23, 2019Dairy price outlook brightens | Capital Press+0.3%

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.

Milk (Class III) MILK · GP ▸

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