Update to June Blog Post Indicates Softening Class III Prices

As mentioned in the June post, the high inventories of cheese and butter present a troubling picture for Class III dairy prices.  The data in the  June post has been updated to provide current insights into the risks of Class III dairy prices.

 Exports are up but not enough to reduce inventories.  Therefore, Class III futures are declining.  Charts of the NASS cheese and butter prices are shown below.  Current Class III futures have fallen to the mid $17/cwt. levels.  For more charts and explanations click on this link to the updated June post.