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Class III milk futures on the CME fell across the curve on October 11, 2016, with October down $0.12 to $14.70 and January down $0.20 to $15.10. Spot cheese, butter and nonfat dry milk also traded lower.
The USDA announced a $20 million cheddar purchase for food banks and released a report on Trans-Pacific Partnership benefits for dairy.
Persistent high milk production and weak spot dairy prices point to continued pressure on milk values. The USDA cheese purchase offers little support to the wider market.
brownfieldagnews.comJohn PerkinsOct 11, 2016brownfieldagnews.comJohn PerkinsOct 10, 2016brownfieldagnews.comJohn PerkinsOct 12, 2016Not 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.
Class III futures fell across the curve on Oct 11 with spot cheese, butter and NFDM lower, directly reflecting selling pressure within the 5-day window.
