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Milk Markets Sell Off to End of July in Chicago


On the Chicago Mercantile Exchange milk futures closed lower again Wednesday, while cash markets were mixed.  Class III milk fell sharply Wednesday. August fell 22 to $17.25 per cwt, September fell 12 to $17.68 and the August – December average at $17.42. 2020 also saw a dip, losing 3-8 cents in first quarter and January – March 2020 averages at $16.64 per cwt. Class IV milk followed the gain in butter, August gained 5 cents to $16.76, September gained 4 to $17.04 and the August – December average is at $17.09 per cwt.

Dry whey unchanged at $0.34. Blocks unchanged at $1.82. Barrels down $0.0250 at $1.6975. Six trades were made ranging from $1.6975 to $1.7150. Butter up $0.0175 at $2.3450. One trade was made at $2.35. Nonfat dry milk down $0.0025 at $1.0350.

Feed prices improved as sell signals fed a bearish market. December corn fell 11 cents to $4.10, November soybeans fell 15 ¼ to $8.81 ½, and August soybean meal fell back below $300 per ton, losing $2.10 to $298.20 per ton.


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