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Milk futures and cash dairy prices fell significantly on the CME on Tuesday after the holiday weekend. July Class III milk was down $0.32 at $22.10, and cheese blocks, butter and nonfat dry milk moved in mixed directions.
Lower Class III milk futures signal reduced revenue expectations for dairy producers, which can ease their appetite for feed purchases in the near term.
brownfieldagnews.comLarry LeeJul 5, 2022Not 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.
July 5 CME session saw significant declines in Class III futures and cash dairy, directly adding to the 5-day drop.
