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Class III milk futures were mixed on October 7, 2016, after a mostly lower trend, with October down $.05 at $14.99 and December up $.03 at $15.44. Spot cash cheese rose to $1.55 and barrels gained to $1.51.
Butter was $1.85 and nonfat dry milk was slightly lower at $.915.
Stabilizing futures and firmer cheese cash prices suggest the recent dairy decline may be pausing, which could limit further downside for dairy feed ingredients.
brownfieldagnews.comJohn PerkinsOct 7, 2016brownfieldagnews.comJohn PerkinsOct 5, 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.
