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Milk Futures Continue Lower After Bearish USDA Reports

Wednesday, January 27th, 2021

On the Chicago Mercantile Exchange milk futures are still reeling from USDA’s bearish reports while cash markets were mixed Monday. January Class III milk down three cents at $16.13.  February down 59 cents at $15.37.  March 48 cents lower at $16.56.  April down 50 cents at $16.81.  May through July contracts 40 to 50 cents lower.

On the product markets, dry whey down $0.0425 at $0.4975.  Three sales were made ranging from $0.4975 to $0.51.  Blocks down $0.0175 at $1.5925.  Barrels up $0.0075 at $1.40.  Four sales were made ranging from $1.40 to $1.43. Butter down $0.08 at $1.28.  One sale was made at that price. Nonfat dry milk down $0.0250 at $1.1375.  Thirteen sales were made ranging from $1.1325 to $1.1375. 

(T2, D1)

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