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CME Class III milk futures closed mixed on Monday as the market adjusted to USDA reports released the previous Friday. February Class III rose a penny to $13.99 and March rose a dime to $14.69, while deferred contracts were slightly lower.
Cash blocks, butter and nonfat dry milk were mixed to firmer.
This is routine price movement without a new supply or demand shock. Cash and futures moves are small and largely reflect reaction to USDA's data.
brownfieldagnews.comNicole HeslipFeb 11, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
