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Class III milk futures rose on May 10 after USDA lowered its 2017 production estimate by 400 million pounds. Cash cheese blocks ticked up to $1.60, butter gained to $2.13, and deferred Class III contracts rose 15 to 22 cents.
The lower USDA production outlook tightens expected milk supply, supporting futures and the forward Class III price curve.
brownfieldagnews.comJohn PerkinsMay 10, 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.
