Loading…
Class III milk futures on the CME rose on Wednesday, with October up 26 cents to $19.53, supported by firm cash markets. Blocks, barrels and butter also edged higher, and USDA set August Class III at $16.43.
Higher Class III futures signal stronger expected milk prices, which improves dairy producers' margins and their capacity to buy feed.
brownfieldagnews.comNicole HeslipSep 30, 2020brownfieldagnews.comNicole HeslipSep 28, 2020brownfieldagnews.comNicole HeslipSep 30, 2020Not 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.
Class III futures extended gains on 9/30 (October up 26 cents to $19.53) on firm cash cheese and butter, showing continued buying momentum within the 5-day window.
Reports on 2020-09-30 of Class III futures rising (October up 26 cents to $19.53) on firm cash blocks and barrels directly reflect the price action on the move date, though the stated gain is far smaller than 19.45%.
October Class III futures were up again to $19.53 on firm cash markets and rising blocks and barrels, consistent with continued upward momentum.
