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CME Class III milk futures were mostly lower on Tuesday, with September up a penny at $16.13 and October down five cents. Barrels fell 1.25 cents to $1.4075 and blocks rose a penny to $1.6150.
The Global Dairy Trade index fell 1.3% at its event, with whole milk powder down 1.8% and skim milk powder down 1.1%.
Lower global dairy auction prices and softer deferred futures point to weaker milk prices ahead, which trims the value of dairy-related feed ingredients.
brownfieldagnews.comLarry LeeSep 18, 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.
