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Milk Futures Down Butter Up in Chicago Wednesday


On the Chicago Mercantile Exchange Wednesday milk futures were mostly up and cash dairy prices down except for butter.  21 loads moved and helped butter move 2 ¼ cents higher to $2.14 ¼. Cheddar fell slightly but holds its average at $2.03 per lb. with blocks moving 1 load, a penny and half lower at $2.04 and barrels moving 4 loads half a penny lower at $2.02. Narrowing the block/barrel spread to 2 cents.  Dry whey was down $.0025 at $.3050 cents per pound. Twenty-one sales were recorded from $.3050 to $.3125. Nonfat dry milk was unchanged at $1.1675 per pound. Five sales were recorded from $1.16 to $1.1675.

Class III milk continued its move higher. October gained 2 cents to $18.62, November was unchanged at $18.68, and December gained 2 to 18.06/cwt. Jan – March of 2020 saw 3-4 gains to average at $17.00 per cwt. Class IV milk saw October gain 8 cents to $16.45, November was unchanged at $16.82, and December fell 4 cents to $16.76 per cwt.

Grain and feed markets were quiet again and took a small step lower. December corn fell 1 ½ cents to $3.91 ¾, November soybeans fell 6 cents to $9.28, and December soybean meal fell $3.00 to $304.80 per ton.


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