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July Class III milk futures were quoted at $21.64 and August at $19.07, with September and October lower at $17.48 and $16.60. Cash block cheese was unchanged at $2.575 per pound, barrels steady at $2.40, and butter at $1.765.
Nonfat dry milk was a penny and a half lower at $1.02.
The routine price moves show a steep futures curve that signals markets expect dairy prices to fall in the second half of 2020.
brownfieldagnews.comJun 27, 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.
