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Class III milk futures were mixed on November 22, with December up $0.15 at $17.13. Cash blocks were $1.915, barrels $1.715, and butter $2.05.
USDA data showed end-October cheese stocks at 1.216 billion pounds, up 6% on the year, and butter stocks 27% above a year ago.
Heavy cheese and butter stocks cap near-term dairy price upside even as futures hold near current levels.
brownfieldagnews.comJohn PerkinsNov 22, 2016Not 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.
