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The USDA put the October Class III milk price at $18.72/cwt, versus $13.96 at the start of the year. Cheese markets have been strong, with CME blocks and barrels off their fall highs, and a November Class III price above $20 is expected.
Strong Class III prices improve dairy producer margins and support higher dairy cow feed budgets. Softening cheese cash prices from the fall peak suggest the rally may be cooling.
capitalpress.comCAROL RYAN DUMASCapital PressNov 22, 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.
