DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Mon Aug 12, 2013 04:27 PM CDT

USDA lowered the expected all-milk price 5 cents to an average of $19.15 for 2014, but raised this year's price slightly averaging $19.70. Class III price was raised to $17.90 this year and lowered to $17.05 next year. Class IV was unchanged next year at $18.20 with this year's price unchanged at $18.40. These prices will not be too bad if feed prices continue to decline, but that remains to be seen as the crop is not yet in the bin. USDA lowered corn production to 13.763 billion bushels, a record crop but it was lower than trade expectations. ...

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