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Class III milk futures on the CME fell on Monday, with December down $0.14 to $20.17. Cheese blocks dropped $0.25 to $2.1250 and butter closed down at $2.93, while nonfat dry milk slipped to $1.39.
Lower Class III futures and spot cheese point to weaker milk value, which tends to reduce dairy-based feed ingredient demand and lower farm milk checks.
brownfieldagnews.comLarry LeeNov 28, 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.
Nov 28 declines in cheese blocks, butter and nonfat dry milk pushed Class III futures lower, establishing the downward momentum that carried into Nov 30.
