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December Class III milk futures on the CBOT closed 2 cents lower at $19.83, with January down 19 cents. Blocks fell $0.025 to $2.065 and nonfat dry milk dropped to $1.36, while barrels rose slightly.
Continued declines in futures and spot dairy products signal softer milk prices ahead, which pressures dairy producers and related feed demand.
brownfieldagnews.comMark DorenkampNov 29, 2022brownfieldagnews.comMark DorenkampNov 30, 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 29 CBOT close showed weaker blocks and nonfat dry milk, with deferred January Class III down 19 cents, signalling falling cheese-driven values and building selling pressure just before the Nov 30 drop.
