# CME Markets Turn Around on Tuesday as Traders Bought Back Oversold Positions | The Bullvine

> 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.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/9913-cme-markets-turn-around-on-tuesday-as-traders-bought-back-oversold-positions
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

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.

## Read by commodity

- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2022-10-05 | 5 | +11.2% | 3.5 | 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. |

## Sources

- thebullvine.com: https://www.thebullvine.com/news/cme-markets-turn-around-on-tuesday-as-traders-bought-back-oversold-positions/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.