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CME milk futures closed mostly higher on November 27, with November Class III at $20.36 and December at $19.30. Cash blocks, barrels and dry whey were firm, and the USDA reported the October all-milk price at $19.90/cwt, up $0.60 on the month.
Higher Class III futures and cash prices point to stronger dairy producer returns, which can support herd rebuilding and dairy feed demand. Firm dry whey supports dairy ingredient values.
brownfieldagnews.comNicole HeslipNov 28, 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.
