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Milk futures on the CME were mostly lower on Tuesday, with the January Class III contract settling up slightly at $19.48 while February through December contracts fell. Cash blocks, barrels, and butter were steady to lower, and dry whey and nonfat dry milk were unchanged.
Lower Class III futures and cash dairy prices reduce the value of milk and the returns on dairy-based feed inputs. The routine daily move reflects weak near-term dairy demand rather than a new supply shock.
brownfieldagnews.comLarry LeeJan 31, 2023brownfieldagnews.comNicole HeslipJan 30, 2023Not 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.
CME futures for February through December fell on 1/30 while cash dairy was steady to lower, showing weakening price momentum just before the move; the January contract expiry also affects the front-month price.
