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CME dairy markets closed mostly higher on Friday, with September Class III milk up $0.14 to $16.52. Butter fell while cheese, blocks and barrels gained.
USDA noted lighter milk volumes into cheese vats in the east and Midwest, and heat and dryness hurting production in northern Europe and Australia.
Tighter milk supply and overseas heat support dairy prices, which can lift demand for dairy-linked feed byproducts modestly.
brownfieldagnews.comLarry LeeAug 31, 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.
September Class III rose on cheese, block and barrel gains, with lighter milk volumes into cheese vats and heat hurting production in Europe and Australia tightening supply.
