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Dairy Markets Continue to Slide in Chicago

At the Chicago Mercantile Exchange Class III milk futures again continued lower Wednesday following the elections and lower cash trade.  November closed six cents lower at $14.46. December down 17 cents at $14.66. The 2019 Class III prices also fell 5 to 12 cents across the board.  January 12 cents lower at $14.78. February down a dime at $14.92. March through next October contracts closed four to eight cents lower. Class IV prices fell 10 cents for both November and December of 2018. The 2019 Class IV prices loosed 3-9 cents in January to March while the remaining of 2019 realized gains of 8 to 17 cents. 

The CME spot market continued to soften as well. Butter fell 3 cents after 5 trades to $2.21 per lb. Blocks fell 3 and ¼ cents at $1.42 and 1.2 cents per lb., also trading 5 times. Barrels also lost 3 cents at $1.30 and ½ cents per lb., only trading 3 times.  Grade A nonfat dry milk only traded 1 time loosing 1 and ½ cents at 87 cents. Dry whey was the only product that didn’t trade, leaving it unchanged at 44 and ½ cents.

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