DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Mon Jul 1, 2013 04:34 PM CDT

Last week put a sour taste in most farmers' mouths. Lower grain prices were some consolation, but July milk futures falling below $17 was a concern. However, things look quite a bit different at the end of Monday. Milk futures rallied significantly with July through October posting the most gains. The increase in cash prices certainly did not translate into 30 to 56 cents higher, but short-covering pushed futures contracts higher as traders liquidated previously sold positions. July Class III futures pushed back above $17, easily closing at $17.37. This certainly brightens the outlook again, but cash buying interest ...

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