Hang in there
By Dairy Herd staff
| Tuesday, March 10, 2009
The Class III milk futures market is optimistic that prices will improve, particularly in the second half of the year.
Last week, the March through June Class III contract months settled at an average of $10.94 per hundredweight at the Chicago Mercantile Exchange. The July through December contract months closed at an average of $14.08 per hundredweight on March 6. That is the highest settlement price since early February.
The futures market saw continued strength this week, particularly in the second-half pack.
On Tuesday, the July through December 2009 contract months closed at an average of $14.14 per hundredweight, which is up 6 cents since last Friday’s average settlement. The March through June Class III contract months settled higher on Monday, but declined again Tuesday to an average of $10.88 per hundredweight. That is 6 cents shy of last Friday’s average settlement price.
Source: CME
