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CME Class III milk futures closed higher on March 2, with February up a penny to 15.65 and April up 39 cents to 17.80. Cash block cheese, butter and nonfat dry milk also rose.
The gains followed the 15 percent Global Dairy Trade jump.
Higher Class III milk futures and cash dairy prices signal stronger US milk value and raise expected returns for dairy producers. Routine market moves like this give buyers a read on dairy feed demand.
brownfieldagnews.comNicole HeslipMar 3, 2021Not 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.
Directly documents CME Class III futures and cash cheese, butter and NDM rising after the GDT jump, showing transmission to the traded contract.
