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Class III milk futures were lower on April 7, with April down $0.04 to $15.10 and July down $0.07 to $15.95. Cash cheese blocks slipped to $1.46 and nonfat dry milk rose to $0.81.
USDA reported higher milk output in many regions, with Central processors turning away milk due to high production and Canadian import restrictions.
Surplus milk and restricted Canadian import access are pressuring US dairy prices. Heavy milk output keeps the market soft for dairy-based feed ingredients.
brownfieldagnews.comJohn PerkinsApr 7, 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.
