All markets down from last week. Class III markets off 39 cents.
Both markets stopped downward trends and look to have hit bottom, hopefully.
Opportunities to move cheese and butter inventories could materialize.
Class III milk futures dropped 66 cents from last week, barrel prices dropped nearly 20 cents.
Cheese, butter and milk markets all trend lower on Thursday.
Spot product markets respond to July’s USDA cold storage report
It could serve as a good alternative to the dairy MPP or LGM-Dairy programs.
Barrels and blocks now even at $1.72. Class III average off 18 cents.
This paradigm of overproducing demand and expecting to stay profitable has to come crashing down at some point.