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Milk Futures Up, Cash Dairy Mixed in Chicago


At the Chicago Mercantile Exchange, Class III milk futures closed higher Thursday supported by bullish market expectations the dairy herd is shrinking.  Class III milk futures bounced 22-30 cents per cwt. higher on Thursday September through December. The average on the last 4 months now stands at $16.16 per cwt.  First quarter 2019 traded 17-19 cents higher while the 2ndhalf of 2019 ascended 1-5 cents as well. The 1sthalf of 2019 closed Thursday at $15.93 per cwt. while the full year is at $16.15 per cwt. Class IV markets had small volume and finished mainly unchanged. 

Cheddar blocks added 1 and ¼ cents to $1.65 after 2 trades. Barrels gained a penny to $1.57 and ½ cents.  Grade A nonfat dry milk declined 1 and ¼ cents to 86 and ¼ cents per lb.  Butter closed down $0.0025 at $2.2475.  Five trades were made ranging from $2.2325 to $2.25. Dry whey was up two cents at $0.47.


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