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Milk Futures Lower, Cash Dairy Mixed

Class III milk futures at the Chicago Mercantile Exchange closed lower Thursday pressured in part by lower global market prices and a bearish supply and demand report.

October closed nine cents lower at $15.66.  November down 13 cents at $15.76.  December down 14 cents at $15.80.  January nine cents lower at $15.75.  February through next September contracts closed three cents lower to 12 cents lower.

Barrels were up $0.0050 at $1.37.  Eight trades were made ranging from $1.35 to $1.3650.

Blocks were $0.01 lower at $1.65.  Seven trades were made ranging from $1.6250 to $1.65.

Butter was up $0.04 at $2.2675.  One sale was made at $2.2475.

Nonfat dry milk closed $0.0125 higher at $0.87.

Dry whey was unchanged at $0.5625.

The USDA says cash dairy prices lower for all products except dry whey over the past week.  The USDA reports cash butter for the week ending October 6th averaged $2.28 per pound, $0.012 lower than the previous week. Blocks of cheddar were pegged at $1.67, $0.0013 lower. Barrels averaged $1.46, down $0.066. Dry whey prices averaged $0.441, up $0.032. Nonfat dry milk averaged $0.869, down $0.001.

--Brownfield AgNews