DTN Closing Dairy Comments
Robin Schmahl DTN Contributing Analyst
Wed Jan 2, 2013 03:59 PM CST

Milk futures were uneventful today with earlier price strength giving way to mixed prices by the close. The recent increase of cheese prices is being watched very closely for further strength. Traders are not convinced prices have found good support. USDA's "Agricultural Prices" report indicated the December milk/feed ratio fell to 1.65, down from 1.73 in November and down from 1.81 a year ago. This is the lowest ratio since September. The average milk/feed ratio for 2012 is 1.52, the lowest on record. For the month, corn price declined a penny to $7.01; soybean price increased 40 cents to ...

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