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Milk Futures and Cash Dairy Tumble on Tuesday in Chicago

On the Chicago Mercantile Exchange Tuesday most milk futures and cash dairy prices were down significantly.  Class III milk markets had nowhere to go but down following the barrel cheese performance. Milk declined 8 cents in December and ranged from 16 to 24 cents softer in the first half of 2020. The first half 2020 market is offering producers $17.40 per cwt. Second half 2020 watched July fall 10 cents while the remaining months were a penny higher to 3 cents lower. Class IV milk softened 2-12 cents January through September 2020. First half Class IV 2020 prices are offering $17.60 per cwt. 

Dry whey was unchanged at $.3625 cents per pound. Five bids were offered, but no sales were recorded. Forty-pound blocks were down $.0225 at $1.9475 per pound. No sales were recorded. Barrels were down $.1325 at $1.9475 per pound. Two sales were recorded at $1.9775 and $2.00. Grade AA Butter was up $.0100 at $1.94 per pound. One sale was recorded at that price. Nonfat dry milk was down $.0050 at $1.2625 per pound. There were five offers and two bids, but no sales recorded.

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