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CME milk futures closed mostly lower on Thursday after weakness in the cash market, with near-term Class III contracts down up to 31 cents. USDA October data showed butter output up more than 5 percent from last year and nonfat dry milk production up more than 11 percent.
Rising butter and powder output combined with weak cash prices pressures dairy product values, which can soften milk prices for dairy-linked feed demand.
brownfieldagnews.comNicole HeslipDec 5, 2019Not 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.
