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Class III milk futures on the CME fell on demand uncertainty and follow-through selling, with October down 5 cents to $16.24. Cash cheese blocks slipped slightly to $1.735 and butter fell 7 cents to $2.315, while nonfat dry milk eased to $0.8275.
USDA reported Midwest milk production declined over the past week, making processing milk harder to find.
Tighter Midwest milk supply for processors is a mild support for dairy-based feed ingredients, but softer futures and cash prices point to weaker dairy product values and limited pressure on milk-based feed demand.
brownfieldagnews.comJohn PerkinsSep 29, 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.
