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CME milk futures closed mixed as a slightly bearish cold storage report and light pre-Christmas trading weighed on the market. December Class III fell a penny to $19.36, while January dropped 12 cents to $17.31.
Cash blocks, barrels and nonfat dry milk were lower.
Routine futures moves with no new supply or demand shock leave the milk outlook largely unchanged. Softer cash prices point to modest pressure on dairy feed demand.
brownfieldagnews.comNicole HeslipDec 25, 2019Not 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.
