NEWS
DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Tue Feb 18, 2014 04:04 PM CST
Milk

Milk production continues to slowly increase, but not to the extent that it is causing an oversupply. Demand remains good with buyers interested in picking up product to fill orders. This keeps support in Class III futures. Discounted prices need to converge to the underlying cash. March futures are now very close to the underlying Class III price calculation at the close of Tuesday. Global Dairy Trade auction prices were lower in all categories Tuesday except for butter milk powder which increased 3.1% to $5,355mt, or $2.43 per pound. Anhydrous milk fat declined 4.5% to $5,314mt, or $2.41 per ...

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