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Milk Futures Give Back in Chicago Wednesday


On the Chicago Mercantile Exchange milk futures closed lower Wednesday as increased dairy product numbers caught up with markets at midweek.  Class III quietly gave back some of its gains. November fell 7 cents to $20.23, Dec fell 12 to $19.64 and 2020 saw Jan – March fall 3-8 cents and is averaging at $17.42 per cwt. Class IV milk saw gains in every month but November which held unchanged at $16.78. December gained 5 to $16.93, and January gained 1 to $17.06 per cwt

Cheddar barrels continued to move higher but again saw no loads come to the table. Blocks down $0.01 at $2.15. Three trades were made ranging from $2.15 to $2.1575. Dry whey unchanged at $0.2775. Butter down $0.0075 at $2.0550. Nonfat dry milk up $0.0125 at $1.12050. One trade was at that price.

Grain markets moved lower ahead of Friday’s World Supply and Demand report. December corn fell 3 to $3.78 ¾, November soybeans fell 6 ¾ cents to $9.15 even, and we see soybean meal fall below $300 once again, falling $3.80 to $298.90 per ton.


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