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Milk futures mostly lower, cash dairy mixed
Class III milk futures at the Chicago Mercantile Exchange closed mostly lower Wednesday.
October closed two cents lower at $15.60. November down 11 cents at $15.64. December down 11 cents at $15.62. January also 11 cents lower at $15.58. February through next September contracts closed 12 cents lower to two cents higher.
Barrels were down $0.04 at $1.2925. Five trades were made ranging from $1.2850 to $1.33.
Blocks were $0.03 lower at $1.59. Three trades were made ranging from $1.59 to $1.5950.
Butter was up $0.0150 at $2.2850. Eleven sales were made ranging from $2.28 to $2.2925.
Nonfat dry milk closed down $0.0050 at $0.8675.
Dry whey was up $0.0050 at $0.5750. Two sales were made at that price.
For November, the USDA has set the base Class I milk price at $15.52 per hundredweight, down $0.81 from October, with the base Class I skim price at $6.81, down $0.90.
The USDA says cash dairy prices were mixed over the past week. The USDA reports cash butter for the week ending October 13th averaged $2.30 per pound, $0.02 higher than the previous week. Blocks of cheddar were pegged at $1.68, $0.013 higher. Barrels averaged $1.45, down $0.01. Dry whey prices averaged $0.437, down $0.002. Nonfat dry milk averaged $0.873, up $0.005.
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