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Despite spot cheese moving higher, Class III futures sold off.
As the snow blows into the Midwest, dairy has another quiet day but shows some green.
Barrels were the lone product to claw higher in the CME Cash Dairy Product Trade
Dairy markets ended in the green on Tuesday after a positive Global Dairy Trade (GDT) event as well as a stronger CME spot dairy auction.
Butter continues its struggle, hits a new low.
Class III futures traded quietly for the second day in a row.
Finally, a quiet day in the milk markets.
Class IV traded 30-35 cents lower in the second quarter of 2021.
Both cold storage and milk production were released Monday.
Class III milk futures were finally able to see green ink to end the week.
February Class III milk prices suffered another 70-cent fall with settlement coming in around $16.45/cwt.
The dairy market failed to get cheese to follow through on last week’s gains and gave back some of the late-week rally.
A move lower in cheese on Friday was ignored by the Class III milk markets.
Volatility continues to dominate the markets in both the dairy and grain complex.
Tuesday’s trading session proved to be a tough day for unhedged dairy producers.