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Milk Markets Maintain Strength in Chicago Thursday

On the Chicago Mercantile Exchange milk futures maintained midweek strength Thursday with cash trade mostly supportive. Class III futures trended higher once again.  April gained 7 cents to $17.62/cwt.  May milk surged 24 cents to $19.42/cwt.  June exploded 34 cents higher to $19.61/cwt.  July jumped 22 cents to $19.42/cwt.  Class IV futures settled 10-25 cents higher in second half 2021, ranging from $16.70-$17.25/cwt. 

Butter regained yesterday’s losses and more in the CME Cash Dairy Product Trade,up $0.03 at $1.8425.  Eight trades were made ranging from $1.8250 to $1.8475.  Blocks up $0.0075 at $1.8075.  Barrels up $0.0050 at $1.5850.    Nonfat dry milk up $0.0125 at $1.2050.  Three trades were made at $1.2050 and $1.2075. Dry whey down $0.02 $0.64.  One sale was made at that price. 

Corn led the pace higher in the grain markets ahead of tomorrow’s WASDE report.  May corn launched a gain of 19.25 cents to $5.7975/bushel.  May soybeans moved 6.50 cents higher to $14.1525/bushel.  May soybean meal receded $2.30 to $406.80/ton.  May Chicago Wheat finished 12.50 cents higher to $6.2875/bushel.

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