NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Thu Oct 31, 2013 04:24 PM CDT
Milk

Class III futures surged higher continuing to follow cheese prices. Futures price increases are calculated void of the volatility many times seen in cash price movement. Traders are keeping futures close to cash while at the same time not stacking or extending themselves with contracts either one way or the other. The magnitude of short-covering sometimes experienced is limited because of caution being exercised by traders. September dairy cattle slaughter totaled 259,000 head. This is 7,000 lower than August, but up 8,000 head over last year. This basically indicated the industry is steady and culling is done normally and ...

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