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Milk futures and cash dairy closed mostly higher on the CME on Friday, with October Class III up 73 cents to $18.88. Cheese blocks, barrels and nonfat dry milk also rose on the day.
Rising forward Class III prices point to better expected milk revenue, supporting dairy feed demand.
brownfieldagnews.comLarry LeeSep 26, 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.
October Class III rose 73 cents to $18.88 on 9/25 with cheese blocks, barrels and NFDM higher, which is direct evidence of the cheese-led upward price momentum in the window.
October Class III futures rose 73 cents on firmer cheese, blocks, barrels and NDM, which is consistent with the start of the rally, though it falls before the 5-day window.
