DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Wed Aug 21, 2013 03:25 PM CDT

Milk prices were lightly mixed in morning trade until a third day of lower cheese price occurred, which was too much for traders to ignore so milk futures followed lower. September and October realized the largest declines, as expected since they are the next months to be priced. The September contract has been devastated by the drop in cheese this week, since it is currently being priced, and has fallen $1.11 per cwt from Monday's opening price. This drop is in-line with the change in cash prices, and leaves about 25 cents of premium in futures compared to the ...

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