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CME block cheese prices slid nearly 30 cents to $1.47 per pound in early December, while spot butter held near $2.20. Class III futures fell 65 cents from November to settle at a $14.75 average, and dairy farmers sent 108,000 more cows to slaughter through October than a year earlier.
Surplus U.S. milk stocks are expected to push prices lower before supply adjusts through culling, which weighs on dairy-sector feed demand.
hoards.comCorey GeigerDec 12, 2017Not 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.
