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The USDA announced the November Federal order benchmark Class III milk price at $16.76 per cwt, up $1.94 from October and $1.46 above a year earlier. The November Class IV price was $13.76, up a dime from October but $3.13 below a year ago, and California's 4b cheese milk price rose to $17.45.
Higher cheese-driven Class III prices improve dairy margins and support demand for dairy-linked feed ingredients, though Class IV weakness signals softer butter and powder demand.
thefencepost.comLee MielkeDec 15, 2016After 237 past bullish report events, MILK moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
