NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Tue Aug 13, 2013 04:08 PM CDT
Milk

Any hope that support for milk prices stemming from higher grain futures was eliminated. Traders reacted Monday to USDA numbers relative to trade estimates by pushing prices higher. However, that was short-lived, as the report still showed a record corn crop in the field if weather remains good and a killing frost is late. There is potential for a significant change either way before the crop is made. Corn futures resuming the downtrend by making a new low keeps the outlook for increasing milk production intact. December corn futures closed at the lowest price since Sept. 14, 2010. The ...

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