NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Tue Apr 30, 2013 04:15 PM CDT
Milk

Class III futures had nowhere to go after spot trading due to the divergence in cheese prices. Traders were content to book profits gained from buying futures Monday, keeping the market in the sideways pattern. The wide block/barrel price spread increased caution by market participants. This spread will not remain this wide, but may stay this way for a while. USDA indicates the April milk/feed price ratio improved to 1.56, up from 1.48 in March and compared to 1.41 a year ago. This improvement is welcomed, but certainly nothing to get very excited over. Corn price fell to $6.67, ...

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