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The October Class III milk futures price rose 50 cents to $19.70 as of press time, the highest level in about half a decade. The price first reached this level the prior Thursday.
A Stewart Peterson analyst attributed the move to traders covering short positions.
Higher Class III futures signal stronger milk returns, which can support dairy farmers' feed purchasing. The gain was driven mainly by short covering rather than a clear change in supply or demand.
en.edairynews.comDamián MoraisSep 18, 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.
