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Class III milk futures were higher across the near months on Monday, with February up 40 cents to $16.46. Spot cheese blocks rose 7.25 cents to $1.61, barrels rose 8 cents to $1.55, and butter rose 4.25 cents to $2.8025.
Higher spot dairy product prices support the Class III milk price and dairy producer returns. This is routine daily market commentary with no new fundamental driver.
brownfieldagnews.comLarry LeeJan 29, 2024brownfieldagnews.comLarry LeeJan 30, 2024brownfieldagnews.comNicole HeslipJan 31, 2024Not 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.
Monday's rally in Class III futures and spot cheese set up upward momentum and a short-covering bid, though it predates the Jan 31 move.
