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The USDA set the May Federal order Class III milk price at $15.18 per cwt., up 71 cents from April but 39 cents below May 2017. Futures pointed to higher Class III prices for June through September, and dairy producers remain under financial strain.
Futures indicating a seasonal rise in Class III prices supports the outlook for firmer milk prices in the second half of the year, though producer margins remain thin.
thefencepost.comLee MielkeJun 8, 2018After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
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.
