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On February 26, 2024, CME milk futures were mostly higher, with March Class III up 27 cents to $17.58. USDA's Cold Storage report showed January cheese stocks near 1.5 billion pounds, a record for the month.
Record cheese inventories are a bearish signal for dairy demand, which partly offsets the firmer futures trade.
brownfieldagnews.comLarry LeeFeb 27, 2024brownfieldagnews.comNicole HeslipFeb 26, 2024After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% over 20.
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.
