Loading…
Chicago Mercantile Exchange milk futures traded mixed, with June Class III down a penny at $17.31 and July down four cents at $17.85. Cash blocks were unchanged at $1.5050 and barrels rose to $1.5925, while butter eased to $1.79.
USDA raised May Class and Component prices, with Class III set at $18.96.
Mixed cash dairy trade and small futures moves give little new direction for milk prices, so the feed-relevant signal is limited. The USDA upward revision reflects already-reported May prices rather than a new supply or demand shift.
brownfieldagnews.comNicole HeslipJun 3, 2021brownfieldagnews.comNicole HeslipJun 2, 2021Not 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.
Brownfield report for 2021-06-02 shows June Class III futures at $17.31 and July at $17.85, sharply below the prior week's $17.98 and $18.55, with cash blocks flat and butter easing, which fits the selloff; the cash market was not the main trigger, though.
CME Class III futures were weaker on June 2 (June $17.31, July $17.85), well below the roughly $18.96 May Class III price, which shows the futures discount and bearish pressure ahead of the drop.
