Laden…
The USDA set the October 2020 Federal Milk Marketing Order Class I base price at $15.20/cwt, down more than $3 from September. Dairy cow slaughter hit a four-year low in August.
Rising block cheddar prices from a USDA food box purchase approval are creating the potential for depooling and negative producer price differentials in October.
Lower Class I pricing and a cheese-driven rally in Class III futures shift milk value between classes and regions. Tighter cow slaughter supports milk supply and feed demand over the coming months.
agproud.comDave Natzke28 sep 2020Na 136 eerdere neutraal rapport-gebeurtenissen bewoog Melk (Class III) zich mediaan -0,1% over 5 sessies (43% hoger; middelste helft -0,7% tot +0,5%), en -0,3% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
USDA food box purchase approval lifted block cheddar prices and raised depooling and negative PPD risk, a demand-driven bullish factor for Class III futures.
Rising block cheddar prices tied to the USDA food box purchase approval point to a demand-driven cheese rally and depooling, which tightens milk supply to Class III and supports futures.
