Monthly Forecast Update
Monthly Forecast Updates for September 2020
- Revised October Class I milk price lower vs. previous forecast due to lower Class III and IV prices in September.
- Reduced September 2020 Class III milk price forecast due to steep spot price declines at the end of August.
- Increased the October 2020 cheese and Class III milk price forecasts higher due to rebound in the cheese market and expectations of tighter supplies at the end of September.
- Reduced the CME butter price forecast through 2020 – still expecting a seasonal lift, just not as high as the prior forecast.
- Increased the CME block – barrel spread through the end of 2020.
- Adjusted NDPSR Cheddar correlations
- Small modification to NDM prices through 2021.