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Class III milk futures closed mixed on Monday, with September a penny lower at $16.13 and November up two cents. Blocks were unchanged at $1.6350 and butter rose to $2.2750.
USDA data showed cheese stocks of about 1.4 billion pounds at August 31, down 4% from July but up 2% year over year, and butter stocks above 290 million pounds.
Cold storage inventories that are roughly in line with last year keep the dairy price outlook balanced, with limited pressure on milk prices and dairy feed demand.
brownfieldagnews.comNicole HeslipSep 24, 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.
