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Milk Markets Rebound in Chicago Wednesday


On the Chicago Mercantile Exchange milk futures rebounded midweek while cash trade was mostly lower.  Class III milk moved higher despite little information feeding it in the spot trade. February fell 1 to 17.03 but most of the rest of the futures trade moved higher. March gained 8 to 17.29, April gained 8 to 17.42. The first half of 2020 sits at 17.31/cwt.  Class IV milk didn’t follow suit. February fell 2 to 16.42, March fell 1 to 16.40, and April fell 9 to 16..66/cwt. 

The balance of our products were unchanged. Dry whey unchanged at $0.3950.    Blocks down $0.0150 at $1.8650.  Three sales were made at $1.8875. Barrels unchanged at $1.56.  Five trades were made ranging from $1.56 to $1.5850.  Butter down $0.0150 at $1.80.  Eight trades were made ranging from $1.80 to $1.82. Nonfat Dry milk unchanged at $1.2250.  Five trades were made ranging from $1.2250 to $12325.

Grain and Feed markets saw Chicago wheat gain 5 ½ to 5.47 ½, Corn gained 3 ¼ to 3.83 even, Soybeans gained 7 ¾ cents to 8.92 ½, and Soybean meal gained $0.90 to 291.70/ton. 


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