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Class III milk futures were lower on March 3, with the March contract at $16.34 and April at $16.08. Global Dairy Trade index fell 1.2%, led by declines in butter milk powder and cheddar.
Cash prices for dry whey, blocks, and butter were mixed.
Lower futures and a falling GDT index signal weaker dairy product prices, which tends to reduce the value of milk-based feed inputs.
brownfieldagnews.comNicole HeslipMar 3, 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.
