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University of Wisconsin economists Mark Stephenson and Bob Cropp are forecasting higher milk prices than futures traders expect. Cheddar block prices hit $2.35 on September 16 before falling back to about $1.99 on October 1, and the economists expect them to strengthen.
Flat milk production and unusual cheese stock patterns support their view.
Flat milk output and tight cheese stocks point to firmer Class III milk prices. Analysts expect cheese and milk prices to rise even though futures are lower.
capitalpress.comCAROL RYAN DUMASCapital PressOct 3, 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.
