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Dairy markets Bounce Back Thursday in Chicago


Dairy markets bounced back on Thursday.  February Class III milk futures on the Chicago Mercantile Exchange closed up eight cents Thursday at $16.97.  March 17 higher at $17.23.  April up 12 at $17.29. First half average is at $17.19 per cwt. Second half saw similar strength gaining 2-18 cents.  Class IV milk was unchanged in Feb at $16.58, gained 4 in March at $16.66 and 17 in April to $16.92. July was the biggest mover gaining 23 cents to $17.73. 

Dry whey up $0.0150 at $0.38.  Blocks down $0.0075 at $1.8950.  Barrels up $0.01 at $1.4650.  16 trades were made, ranging from $1.4525 to $1.4725. Butter unchanged at $1.8550.  34 trades made, with a range of $1.8550 to $1.8575. Nonfat dry milk $0.0150 higher at $1.24. 

Grain and feed markets continue to be mixed with no big moves. March corn fell 1 ½ cents to $3.79 ¼, March soybeans gained a penny to $8.81 even, and soybean meal gained $0.80 to $288.20 per ton.


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