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Class III milk futures on the CME fell across the curve on October 4, 2016, with October at $14.98 and November at $15.23. Cash cheese blocks held at $1.5325 while butter and nonfat dry milk were slightly lower.
The Global Dairy Trade index fell 3% at its latest auction.
Weak cash dairy and falling global auction prices pressure farm milk prices, which lowers the cost of dairy-based feed ingredients and reduces the margin for buyers of dairy by-products.
brownfieldagnews.comJohn PerkinsOct 4, 2016brownfieldagnews.comJohn PerkinsOct 3, 2016Not 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.
Class III futures fell across the curve on Oct 4 amid the GDT decline and softer butter and nonfat dry milk, showing the lower trend that fed into the large one-day drop.
