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Class III milk futures on the CME closed lower on Tuesday, with October down three cents to $15.50 and November down 32 cents to $15.10. Spot barrels fell to $1.22 per pound, approaching a 2018 low, and cheese and butter cold storage stocks rose year over year.
Rising dairy cold storage stocks and softer spot prices point to weaker milk prices into the fourth quarter, which lowers farm milk income and can trim dairy-cow feed demand.
brownfieldagnews.comNicole HeslipOct 23, 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.
