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Milk futures rallied, with August through November contracts trading above $17/cwt, led by cheddar blocks hitting a 2019 high. Separate items cover Montana losing over 37,000 cattle to weather in 2018 and a forecast that lab-grown or plant-based meat will reach 60% of meat consumption by 2040.
The milk rally is driven by cheese demand and lower production, supporting dairy prices. The cattle losses are a past event and the meat-substitute forecast is a long-term outlook with no near-term price effect.
newstalkkit.comAgInfo.netJun 24, 2019Not enough comparable past events yet for a historical read.
Not 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.
