DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Fri Feb 22, 2013 03:13 PM CST

Front-month Class III futures closed lower for the second straight week. Prices have fluctuated during that time with numerous days posting gains from previous sessions, but the overall trend is lower. Weakness in block cheese price this week was mostly to blame for losses in milk futures, along with weaker dry whey price. The March Class III contract ended the week at $17.24 per cwt. This compares to the current cash price equivalent of $17.06 for Class III milk. Monthly "Cold Storage" figures were released Friday afternoon by USDA. They confirmed that cheese and butter are moving into storage. ...

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