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Volatile Milk Future Markets in Chicago


As the Spot Chicago Mercantile Exchange stabilized Thursday, Class III pushes into extended limits during trading. Milk futures continued to slide Thursday as block cheese continues its descent and traders correct overbought positions. Class III milk finished the day June fell 9 cents to $20.92, July fell 62 to $20.94, and August fell 57 to $18.98/cwt. Balance of 2020 moved 7-40 cents lower. Class IV milk had June falling 17 to $13.08, July fell 30 to $14.45 and August fell 30 to $14.95/cwt. 

Dry whey up $0.01 at $0.3125.   Eight trades were made ranging from $0.3025 to $0.3125. Blocks down $0.050 at $2.5750.  Three trades were made at that price. Barrels unchanged at $2.40. Butter down $0.0225 at $1.7650.  Three trades were made ranging from $1.765 to $1.7750. Nonfat dry milk up $0.0075 at $1.0350.  Twelve trades were made ranging from $1.0250 to $1.350.

The grain complex fell sharply. July corn down 7 cents to $3.17 ¼, soybeans down 1 ½ to $8.69 ¼, and soybean meal fell $1.20 to $285.50/ton


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