NEWS
DTN Midday Dairy Comments
Robin Schmahl DTN Contributing Analyst
Wed Jan 8, 2014 01:07 PM CST

OUTSIDE MARKETS SUMMARY:

CORN: 81/2 Lower
SOYBEANS: 1 1/2 Lower
SOYBEAN MEAL: $1.70 Lower
LIVE CATTLE: $0.17 Higher
DOW JONES: 92 Points Lower
NASDAQ: 9 Points Higher
CRUDE OIL: $0.87 Lower

Midday Market Update:

Class III milk futures achieved new contract highs, for another day, following a large jump in cheese prices. Bidders are persistent in cheese, driving blocks 9 cents higher to $2.20 per pound and barrels 10 cents higher to $2.16 per pound. The rapid extent in price increase caused immediate response in Class III milk futures, and was likely magnified as overextended traders' unwound positions. Milk ...

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