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Dairy prices were mixed in the holiday-shortened week, with CME cheddar blocks closing at $1.4750 and barrels at $1.4275. Midwest cheese output is strong as cheesemakers keep plants running on abundant spot milk priced $1.50-$5.00 under Class, and cash butter fell to its lowest since December 9.
Abundant spot milk and high cheese output signal persistent oversupply, which keeps US dairy prices under pressure ahead of the Global Dairy Trade auction and USDA milk production report.
capitalpress.comLee MielkeFor the Capital PressApr 18, 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.
