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Ever.Ag broker Kathleen Wolfley says Class III milk is driven by dry whey, with a one-cent whey move worth about six cents on Class III. She notes steady whey prices, soft US cheese demand, and subdued Chinese and European milk supply.
Dry whey is the main swing factor for Class III, so firmer high-protein whey demand could lift milk prices while weak cheese demand limits upside.
midwestfarmreport.comPam JahnkeJan 4, 2024Not 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.
On the day of the move, Class III was described as driven by dry whey, with soft US cheese demand and subdued Chinese demand limiting upside, which supports the bearish pressure.
