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Hoard's dairy outlook expects April 2018 butter, cheese, dry whey and nonfat dry milk prices to average higher than March, lifting the Class III price to near $14.50 and Class IV to near $13.60. Milk output in January and February was 1.8% above a year earlier, keeping product stocks high.
Stocks of butter, cheese and nonfat dry milk have been rising since December.
Higher projected Class III and Class IV prices improve milk revenue, but high product stocks limit how far prices can rise.
hoards.comInterPuls acquires ADFApr 20, 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.
