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As of May 12, the average Class III milk futures price over the next 12 months rose $0.43 to $15.52 per cwt, and Class IV rose $0.40 to $13.35. Retail sales of fluid milk, cheese, butter and ice cream rose sharply in March and April, partly offsetting lost foodservice demand.
Stronger retail dairy demand and firmer futures support milk prices, but the offset is incomplete while foodservice remains weak. Buyers should expect dairy-linked feed demand to stay supported while restaurant channels are closed.
centerfordairyexcellence.orgMay 12, 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.
