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Block cheese reached a historic high above $2.70 per pound and Class III milk topped $22 per hundredweight after wild swings in dairy markets. Analyst Dan Basse says herd expansion has stalled, and government food box buying has supported prices.
He is more concerned about weakness in the October and later period.
Government buying has propped up dairy prices, but expected softness later in the year signals downside risk for milk values and dairy-linked feed demand.
rrfn.comDon WickJun 25, 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.
