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Cheese prices fell sharply last week as demand declined when the USDA Farmers to Family Food Box program wound down. Dan Basse of AgResource said Class III prices could fall to $15 to $16 per cwt.
Loss of government purchase support and weaker cheese demand point to lower dairy product prices, which reduces milk revenue and dairy-related feed demand.
rrfn.comCarah HartAug 6, 2020After 24 past bearish policy events, Milk (Class III) moved a median -0.1% over 5 sessions (33% higher; middle half -1.8% to +0.5%), and -4.6% over 20.
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.
Cheese prices fell as demand dropped when the USDA Farmers to Family Food Box program wound down, and an analyst projected Class III at $15-16, so sentiment and demand turned bearish.
Cheese demand fell as the Farmers to Family Food Box program wound down, pressuring cheese prices, the main driver of Class III, with analysts projecting Class III falling to $15-16.
Cheese prices dropped as USDA Farmers to Family Food Box demand wound down, with analyst forecasts of Class III at $15-16, a demand-side driver of the selloff (published a day or two later but describes the prior week's decline).
Cheese prices fell as Farmers to Family Food Box demand wound down, with analysts projecting Class III at $15-16, a demand-side bearish factor for cheese-driven Class III, though published a day after the move.
