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A U.S. analyst says Class III milk prices could reach the year's high if December cheese prices hold, as contra-seasonal cheese strength continues. The latest GDT rose 4.5%, its highest trade-weighted average since July 2014, with butter at $1.90/lb and cheese at $1.68/lb.
Lower milk output abroad supports export interest.
Firmer cheese and GDT prices together with lower global milk output point to stronger dairy values into year-end, with downside if cheese softens.
farmersweekly.co.nzGuest writerNov 23, 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.
