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Class III milk futures on the CME rose on Tuesday as traders bought back oversold positions, with October up 47 cents to $21.29. Spot cash trade was mostly lower, although butter moved notably, rising to $3.1550.
This is routine market commentary on futures moves with no new supply or demand cause identified, so it has limited direct effect on feed prices.
thebullvine.comSep 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.
On Sep 28 short covering lifted October Class III 47 cents to $21.29, starting the rally within the 5-day window through Oct 5 on oversold positioning.
