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Class III milk futures closed higher on the CME as traders covered oversold positions, while cash dairy prices were mostly lower. The USDA reported October Class III at $15.53 and Class IV at $15.01.
Futures strength against softer cash prices sends mixed signals on near-term milk price direction. Cash weakness is the more direct guide for physical dairy feed demand.
brownfieldagnews.comNicole HeslipOct 29, 2018brownfieldagnews.comNicole HeslipOct 30, 2018brownfieldagnews.comNicole HeslipOct 31, 2018Not 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.
