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The US Class III milk price rose from a yearly low of $13.89 in February to $18.31 in September and is forecast near $18.65 for October. Higher cheese prices offset lower dry whey, and Class IV rose on higher nonfat dry milk prices, with cheddar blocks back above $2 per pound.
Rising Class III and Class IV prices indicate stronger US dairy values, which support producer returns and dairy-based feed demand.
en.edairynews.comDamián MoraisOct 24, 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.
Cheddar blocks back above $2 and rising Class III prices set up the bullish cheese backdrop that fed the rally.
