meta Milk Futures Lose Previous Gains as Markets Retreat Significantly in Chicago Tuesday :: The Bullvine - The Dairy Information You Want To Know When You Need It

Milk Futures Lose Previous Gains as Markets Retreat Significantly in Chicago Tuesday


On the Chicago Mercantile Exchange milk futures turned around Tuesday taking back earlier week gains as the cash market took a dive lower. After posting the highest spot class III prices yesterday in 5 months, class III prices retreated significantly with sell side pressure showing up in spot cheese.  April milk settled 26 cents lower to $17.60/cwt.  May drifted 47 cents lower to $19.49/cwt.  52 cents evaporated off of the June contract to $19.50/cwt. 

On the CME Cash Dairy Product Trade dry whey up $0.01 $0.66.  One sale was made at that price.  Blocks down $0.0550 at $1.8050.  Barrels down $0.0450 at $1.72.  Nine trades were made at $1.7175 and $1.72. Butter down $0.01 at $1.8950.  Three sales were made from $1.89 to $1.9050.  Nonfat dry milk down $0.01 at $1.2050.  Three trades were made at $1.20 and $1.2050. 

Soybean meal was the lone feed input to retreat lower.  May soybean meal sank $6.90 to $395/ton.  May soybeans gained 7.50 cents to $13.8950/bushel.  May corn jumped 11 cents to $5.80/bushel.  May Chicago Wheat was up 1.75 cents to $6.2975/bushel.


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