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Milk Futures Move Lower While Spot Trade Close Higher


On the Chicago Mercantile Exchange, milk futures closed lower Tuesday while global markets and cash trades were higher.  Class III milk futures tumbled lower.  September milk lost 8 cents to $16.33/lb.  October milk descended 53 cents to $18.70/cwt.  November fell 28 cents to $17.37.  December finished 22 cents lower to $16.50/cwt.   Class IV futures were mixed.  September lost 5 cents to $12.63/cwt.  October was up 2 cents to $13.51.  November added 15 to $14.08/cwt.  

On spot market dry whey unchanged at $0.3475.  Blocks unchanged at $2.2150.  Barrels unchanged at $1.60.  Butter up $0.0150 at $1.5050.  Forty-seven trades were made ranging from $1.4925 to $1.5125.  Nonfat dry milk up $0.02 at $1.06.  Nine trades were made ranging from $1.05 to $1.06.

The grain complex finished the day lower.  December corn declined 3.50 cents to $3.66/bushel.  November soybeans drifted 8 cents lower to $9.9150/bushel.  October soybean meal fell $2.70 to $314.30/ton.  December Chicago Wheat settled 7.50 cents lower to $5.3825/bushel.  October live cattle gained 22 cents to $107.10/cwt.  October feeders increased $1.10 to $143.70/cwt.  October crude oil improved $1.06 to $38.32/barrel.    


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