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Mid-July U.S. cash dairy prices were mixed after the Global Dairy Trade auction and ahead of June milk production data. Cheddar blocks closed at $1.52 per pound and barrels at $1.27, both well below year-ago levels, with trade war uncertainty and high freight costs widening the spread between them.
Persistent trade uncertainty and weak cash prices point to soft dairy values, while high freight costs limit regional dairy movement.
capitalpress.comLee MielkeFor the Capital PressJul 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.
