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Class III milk futures closed lower on April 11 after a bearish USDA supply and demand report, with near-term contracts down 3 to 18 cents. Cash butter was unchanged and California nonfat dry milk reached a record low near $0.69.
Lower milk futures and record-low NFDM signal weak dairy margins, which can reduce herd feeding budgets and pressure demand for dairy-related feed ingredients.
brownfieldagnews.comNicole HeslipApr 11, 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.
