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Dairy markets: Eyes on California

Yesterday’s trade moved higher, and for the third time since February found resistance just over $16.40/cwt. Volumes were also very strong. We expect this was positioning ahead of this afternoon’s USDA Milk Production report, and reaction to the revised California drought regulations.

Markets

Dairy markets: Global pressures building

Class III and Cheese futures opened quickly lower on Sunday night, and when the spot session was unchanged with no activity for both the blocks and barrels, prices remained under pressure throughout the session.

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