NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Tue Jun 18, 2013 04:11 PM CDT
Milk

There is no direction to the market. However, underlying cash prices remaining in a tight range will eventually pull down milk futures as premium will be eliminated and contracts converge to cash. The Global Dairy Trade auction showed mixed results, but the overall trade weighted average increased 1.1%. Increases were seen in whole milk powder price, which was up 2.2% to $4,668 mt, or $2.12 per pound, skim milk powder increased 3.2% to $4,284 mt, or $1.94 per pound, anhydrous milk fat price increased 1.7% to $4,589 mt, or $2.08 per pound, and butter gained 4.7% to $3,925 mt, ...

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