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Milk Futures Fall Sharply in Chicago Wednesday


Class III milk futures fell sharply as spot cheese was slightly lower on the Chicago Mercantile Exchange Wednesday. July Class III milk was unchanged at $24.32 and August was down $.54 at $22.76, while September was down $.43 at $20.93 and October was down $.20 at $19.25. The milk futures from November through next June ranged from unchanged to twelve cents lower. Class IV milk also saw red today.  July remains at $13.80/cwt.  August descended 17 cents to $13.78.  September dropped 13 to $14.32.  

In the CME Cash Product Trade,  Dry whey was down $.0050 at $.34 cents per pound. One sale was recorded at that price. Forty-pound blocks of cheese were down $.0375 at $2.6225 per pound. There were four sales recorded from $2.62 to $2.63. Barrels were down $.0150 at $2.45 per pound. Eight sales were recorded from $2.44 to $2.46. Grade AA Butter was up $.0050 at $1.6675 per pound. No sales were recorded. Nonfat dry milk was up $.0050 at $.9975 per pound. Two sales were recorded at $.9975 and $1.00.

December corn gained 4 cents to $3.3475/bushel.  November soybeans improved 2.75 cents to $8.9550/bushel.  August soybean meal gained $1.00 to $286.60/ton.  September Chicago wheat added 6.75 cents to $5.3475/bushel.  Fats and feeders were mixed.  August live cattle lost 35 cents to $101.50/cwt.  August feeders gained 20 cents to $141.52/cwt.  September crude oil fell 8 cents to $41.84. 


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