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Class III Milk Makes a Come Back Thanks to Global Markets Wednesday


On the Chicago Mercantile Exchange milk futures closed mostly higher Wednesday as strength from global markets continues while cash trade was mixed. July finished unchanged at $17.31 but the remaining months saw double digit gains. August up 17 cents to $17.67, September also gained 17 to $17.89 and the second half averaged at $17.61/cwt. First quarter of 2020 also saw gains of 16-18 cents and averages at $16.75. Class IV milk was not as robust. July fell 1 cent to $16.90, August gained 2 cents to 17.10 and the second half finished the day averaging $17.18/cwt

Dry whey up $0.0025 at $0.3250. One trade was made at that price. Blocks unchanged at $1.7750. Barrels unchanged at $1.69. Butter down $0.02 at $2.4150. Ten trades were made ranging from $2.41 to $2.4350. Nonfat dry milk down $0.0075 $1.0275.

Grain and Feed prices were mixed on Wednesday December corn gained a quarter of a cent to $4.41 ¾, November Soybeans fell 5 ½ to $9.00 ½ /bu, and Aug Soybean meal finished the day down $0.90 to $307.50/ton.


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