Class III milk futures faltered mid-session despite stronger spot cheese prices, as heavy selling pressure erased early gains but contracts still closed above last Friday’s levels.
Class III milk futures continued climbing on strong cheese exports and tightening block supplies, with markets bracing for next week’s shift to block-based pricing under the new FMMO formula.
A 90-day tariff truce between the U.S. and China sparked a market rally, sending Class III milk futures surging and breathing new life into Class IV ingredients.
Class III milk futures slipped to end the week but still posted solid gains compared to last Friday, despite spot cheese pulling back from midweek highs.
After a strong rally, Class III futures paused as markets hit resistance above $1.90, with traders watching for stronger spot buying to push prices higher.
Global and domestic dairy markets gained momentum Tuesday, with stronger futures, higher spot prices, and a bullish Global Dairy Trade auction lifting sentiment across the board.
Dairy markets were mostly steady today with minimal spot and futures activity, slight gains in Class III milk and NDM contracts, and U.S. corn and soybean planting progressing ahead of the five-year average.
