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Milk Futures Higher, Cash Dairy Mostly Lower

Milk futures on the Chicago Mercantile Exchange closed higher Friday ahead of a positive ag price report despite mostly lower cash trade.

July Class III milk up a penny at $24.55.  August up 23 cents at $21.03.  September 16 cents higher at $18.92.  October 17 cents higher at $17.99.  November through January contracts 14 to 22 cents higher.

Dry whey up $0.0025 at $0.3425.  Four sales were made ranging from $0.3325 to $0.3425. 

Blocks down $0.0425 at $2.2525.  Three sales were made at $2.2575 and $2.29.

Barrels down $0.1250 at $2.2350.  Three trades were made ranging from $2.24 to $2.3250.

Butter unchanged at $1.6075.  Five trades were made ranging from $1.60 to $1.6150.

Nonfat dry milk down $0.0125 at $0.9775.  One sale was made at that price.

The USDA’s dairy index for June 2020 was up 33% from May but unchanged from June 2019.

The all milk price was $18.10 per hundredweight, $4.50 higher than the previous month and steady with last year.

 
---Brownfield AgNews