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MRV's market commentary says butter fell from $2.90 to about $2.71/lb and cheese barrels and blocks dropped to about $2.00/lb in early November. Nonfat dry milk rose to $1.36/lb and dry whey rose to about $0.58/lb.
Cheese stocks ended October lower than expected.
Lower cheese and butter prices weigh on Class III and IV values, while firmer powder prices support the milk-solids outlook. Tight cheese stocks may limit further declines.
mrvdairysolutions.comNov 6, 2024Not 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.
