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Government Drives Milk Futures Up the Limit in Chicago Thursday


Government programs drive buyers to the cash cheese and butter trade and we are seeing limit moves on cheese and both Class III and Class IV Milk. On the Chicago Mercantile Exchange  June Class III milk futures were limit up 75 cents at $16.10.  July limit higher at $16.80.  August through October 66 to 75 higher. Class IV milk also moved limit higher in several months. May was up 12 to 10.62, June to 13.05, and July finished at 14.14/cwt. The second half average for Class IV milk sits at 14.85/cwt.

The CME spot trade leapfrogged higher once again. Blocks up $0.1725 at $1.75. Barrels $0.1675 higher at $1.6675. Butter up $0.1350 at $1.6450.  Fifteen trades made, with a range of $1.60 to $1.6450. Nonfat dry milk up $0.04 at $0.92. Dry whey down $0.01 at $0.39.  Six trades were made, ranging from $0.39 to $0.40.

 


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