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CME spot dairy auction values rose at the end of the week, with butter up 3.75 cents to $1.775/lb and cheddar blocks up 2 cents to $1.72/lb. Barrel cheese rose a quarter cent to $1.4625/lb, while whey and nonfat dry milk were unchanged.
In grains, corn strengthened in old crop and soybeans lost ground ahead of USDA's Prospective Plantings report.
Stronger cheese and butter prices support Class III milk values, which lifts the outlook for dairy-sector feed demand. The grain moves were routine and offer a limited signal for feed prices.
en.edairynews.comDamián MoraisMar 29, 2021Not 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.
Cash cheese and butter gains at the CME spot auction supported Class III futures, and the headline of double-digit gains points to strong buying momentum.
