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Class III milk futures on the CME rose on August 8, 2016, with August up $.04 at $17.14 and September up $.08 at $17.24. Spot cash cheese and butter were roughly steady, and nonfat dry milk was unchanged at $.8325.
Cooperatives also accepted 11 export assistance requests covering dairy products bound for Asia, Latin America, the Middle East and elsewhere.
Steady cash markets alongside firmer futures point to modest near-term support for milk pricing, while export assistance shipments add some demand for cheese, butter and milk powder.
brownfieldagnews.comJohn PerkinsAug 8, 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.
