NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Tue Jul 1, 2014 04:18 PM CDT
Milk

Plummeting milk futures prices the past three days have eliminated price gains realized since mid-June. Increasing cheese prices pushing above $2 gained the confidence of some traders and others in the industry believing cheese prices would remain above $2 for the foreseeable future. However, a decline below $2 was unexpected as strong butter price was expected to lend support. Milk futures are following the underlying cash and weakness creates weakness. Global Dairy Trade auction prices weakened after the previous event showed price increases. The trade weighted average declined 4.9% from the previous event. Whole milk powder price declined 5.4% ...

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