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US dairy supplies are growing, with herd size and milk output rising and butter and cheese inventories building. Wholesale butter and cheese prices fell sharply year-on-year, while nonfat dry milk and dry whey prices rose on protein demand.
Heavier milk supply weighs on butter and cheese values, while firm dry whey and nonfat dry milk prices support higher-protein feed ingredient costs for buyers.
Not 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.