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Dairy marketers expect December Class III to average about $13.85, bringing the 2018 average to roughly $14.60, the lowest of the past four years. Class IV averaged about $14.20 for the year, and CME butter, barrel cheese and block prices were expected to fall slightly in December.
Milk output rose only 0.6% to 0.7% in October and November, while fluid milk sales declined 2.2% through October.
Lower spot butter, cheese and Class III prices point to weaker milk values heading into 2019, reducing the cash flow available to dairy producers. Slowing fluid milk consumption adds to the bearish demand outlook.
hoards.comInterPuls acquires ADFDec 19, 2018Not 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.
