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Class III milk futures on the CME traded lower on Thursday, with August at $17.57 and September at $17.23. Cash blocks, barrels, butter and nonfat dry milk also eased, and USDA reported July cheese stocks down 1% monthly and butter stocks up 1%.
Softer dairy product values reduce near-term milk price support, which can modestly weaken dairy producer margins and feed demand outlook.
brownfieldagnews.comNicole HeslipAug 22, 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.
