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CME cheddar blocks fell to $1.34 before rebounding to $1.4525 by Friday, while barrels dipped to $1.25, their lowest since late October. Cheese contacts reported lighter holiday demand and downshifted Midwest production.
Lower cheese prices and reduced production signal weaker milk demand and softer dairy prices, which can ease farm margins and feed buying.
capitalpress.comLee MielkeFor the Capital PressNov 20, 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.
