NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Wed Jul 9, 2014 04:23 PM CDT
Milk

Once cheese prices turned lower on June 27, milk futures followed, racking up substantial losses over the past two weeks. All Class III futures contracts through the end of this year were above $20.00, but at the close of trading Wednesday, only July and August are above that level. Traders anticipated further weakness in cheese as milk production remains strong and export demand slows. Milk prices are not expected to fall out of bed, but some spillover is seen from weakening grain prices. The old sayings are "rain makes grain" and "low grain prices mean low milk prices." The ...

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