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USDA/AMS reports show milk production rising in the Central region and staying above last year. Spot Class III milk traded at discounts ranging from $7 under to $2 under, with plant downtime and spring-break demand softness.
Class IV demand stayed strong on high nonfat dry milk prices.
Abundant spot milk and discounted loads point to softer near-term raw milk values. Strong powder demand limits downside for Class IV-linked milk.
Not 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.