NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Tue Jul 2, 2013 03:55 PM CDT
Milk

There was not much excitement in milk futures as short-covering ran its course Monday. Some of the activity was the result of hedgers taking advantage of what seemed to be good hedging opportunities. Further upside potential could result from this rally, but it may be difficult to maintain in light of current fundamentals. USDA will announce the June Federal Order class prices Wednesday. Traders anticipate a Class III price of $18.04 and a Class IV price of $18.92. Milk production varies across the country, but remains above year-ago levels overall. Milk components are declining seasonally, reducing cheese yield. Markets ...

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