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Class III milk futures on the CME rose on April 30, 2024, with May up 2 cents to $18.39 and June up 45 cents to $18.70. Cash trade was mixed, with blocks and barrels higher, butter steady at $2.965, and nonfat dry milk up a cent to $1.12.
Higher milk futures signal firmer dairy prices, which can support dairy-herd feed demand and sentiment for dairy byproduct feeds. The move was driven by routine trading rather than a new supply or demand shock.
thebullvine.comMay 1, 2024Not 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.
Class III futures rose on April 30 (June up 45 cents) with blocks and barrels higher, showing the cheese-led rally that began the 5-day move.
On April 30 Class III futures rose (June +45 cents) with blocks and barrels higher, which directly contributes to the rally in the window.
Reports Class III futures rising on April 30 (June +45c to $18.70) with blocks and barrels higher, direct market action on the move date, though the stated gains are far smaller than 18% and likely reflect a contract roll or data artifact.
