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Milk futures continued to fall on the CME on Friday ahead of the Independence Day holiday weekend, with August and September Class III contracts each down roughly 28 to 40 cents. Cash dairy prices were mixed, with butter up 1.5 cents to $3.01 and cheese blocks down 2.25 cents.
Continued declines in forward milk futures signal softening dairy margins, which can reduce feed buying and pressure dairy-linked feed demand.
brownfieldagnews.comLarry LeeJul 1, 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 1 Class III futures fell 28-40 cents in deferred months with cheese blocks lower, contributing to the weekly decline.
On July 1 Class III futures kept falling, with cheese blocks lower, adding to the 5-day decline.
