Volatility in feed grain prices has indirectly impacted Class 4 milk futures, now holding near $19.41/cwt. Higher input costs could pressure supply, giving bulls reason to aim for the $19.60/cwt mark before year-end. Cut, and then bake on a parchment-covered cookie sheet for 8-10 minutes. Decorate with the following cookie icing recipe. Butterfat retention: USDA is (correctly) assuming cheese plants have become more efficient over time and a larger percentage of the fat in milk is getting converted into cheese, which helps raise Class III and, consequently, the Class I price a little. Class 4 milk futures inched up to $19.44/cwt after USDA data confirmed lower-than-average butter stocks. This structural shortage adds support to forward months, with analysts expecting stronger buying in late August.
