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Cheddar blocks closed the week of March 1 at $1.61 per pound, the fifth straight weekly gain and the highest since October. Barrels finished at $1.41, and butter closed at $2.2875.
Western milk supplies were ample and vats were near capacity, while Midwest demand showed a seasonal slowdown.
Cheese and butter strength supports milk prices, but abundant milk and heavy inventories limit upside. Feed demand from dairy herds is steady while milk supplies remain plentiful.
capitalpress.comLEE MIELKEFor the Capital PressMar 5, 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.
