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Class III milk futures were mixed, with July at $15.92 and August at $16.74. USDA reported record cheese stocks of 1.340 billion pounds at end of May, up 7 percent on the year, while butter stocks rose 7 percent on the month to 313.575 million pounds.
Record cheese inventories signal heavy supply that pressures cheese and Class III prices, though firm butter demand partly offsets the bearish cheese picture.
brownfieldagnews.comJohn PerkinsJun 22, 2017After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
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.
