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Class III milk futures rose on improved demand expectations, with November up 39 cents to $16.64. Cash cheese blocks gained about 6 cents to $1.67 while butter eased 3 cents to $2.4175.
Fonterra reported 2016/17 payouts up 52 percent and expects higher payouts in 2017/18, and Cooperatives Working Together accepted export assistance requests for cheese and butter.
Stronger futures and higher expected Fonterra payouts signal firmer dairy margins, which can support dairy herd feed demand, though the gains are modest and the story remains largely routine price commentary.
brownfieldagnews.comJohn PerkinsSep 25, 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.
