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Milk Markets Bounce Back Tuesday in Chicago

On the Chicago Mercantile Exchange milk futures were mostly up, and cash dairy prices were mixed Tuesday.   Class III milk started the day down sharply, but as we moved through trading bounced back to finish mostly in the green. February fell 1 to $16.98, March unchanged at $17.01, and April gained 10 to $17.16. The balance of 2020 was 3-12 higher except Dec which was off 4 cents.  Class IV milk saw nice gains following a large volume of butter trading – Feb was unchanged at $16.28, March gained 18 to $16.20 and April gained 15 to $16.35/cwt. Balance of 2020 trading 10-15 higher. 

Dry whey was unchanged at $.37 cents per pound.  No sales were recorded. Forty-pound blocks were down $.01 at $1.81 per pound. There were five sales recorded from $1.79 to $1.7925. Barrels were unchanged at $1.5850 per pound.  There were no sales recorded. Grade AA Butter was down $.0050 at $1.7950 per pound.  Seven sales were recorded from $1.7950 to $1.8150. Nonfat dry milk was up $.03 at $1.20 per pound.  Two sales were recorded at $1.1950 and $1.20.

Grains saw wheat as the story of the day – gaining 24 cents to $5.66 ¾, while corn and soybeans were mostly mixed. 

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