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A commodity analyst says Class III milk has struggled to hold above $17/cwt, a level that has capped prices in recent years. He cites the lack of a trade deal reopening Mexico and China and a 14% drop in Cheddar values at Global Dairy Trade.
Trade barriers and weaker cheese values limit upside in milk prices, reducing the likelihood of a sustained rally in dairy-based feed demand.
brownfieldagnews.comLarry LeeJun 6, 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.
