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On Cows and Markets - Update

By E. W. Lang

Today's USDA crop report prompted a 25 cent limit down movement on corn. Tomorrow's limit will be 45 cents. Soybeans lost 12 cents, soybean meal lost $5 plus change.

Class III Milk Futures gained 25 cents for the rest of this year and 31 cents for the first half of next year. Cheese was unchanged and butter gained 2.25 cents.

Today's Milk Feed Index is well over $10 for both Sept. and Oct., and almost $9 per cwt., on average for all of 2019. We last saw $10 indices in 2014, and seldom before then.