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CME Class III futures for the second half of 2019 closed near $17.00 per cwt. Butter settled at $2.34, cheddar blocks at $1.67, and nonfat dry milk at $1.04.
USDA's latest milk production report showed the national herd down slightly from March with total output up 0.1% year over year.
Stable to firm dairy futures and flat cash prices suggest steady dairy demand for feed, with limited near-term price shocks.
en.edairynews.comDamián MoraisMay 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.
