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Class III milk futures on the CME rose, recovering part of the recent losses, with June up $0.12 at $16.32 and July up $0.15 at $16.77. Cash cheese blocks gained slightly while butter fell.
USDA reported steady to higher milk production, with Midwestern and Southeastern cheese plants absorbing surplus milk at spot prices $3 to $6 under Class.
Surplus milk keeps cheese output high and spot prices below Class, which limits how far futures can recover and keeps dairy margins under pressure.
brownfieldagnews.comJohn PerkinsMay 19, 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.
