July 20, 2018

USDA June Milk Production Report Released

 |  By: Know Your Market

The USDA released their June milk production report on Friday revealing a 1.2% increase in the month of June, over last June. The Southern Plains region again lead production growth with Colorado rising 10.7% over June 2017, with Kansas up 7.4%, Texas up 6.6%, Utah up 6.3% and South Dakota up 4.1%. The US cow herd remained unchanged at 9.404 million head. 


Class III contracts covering all months from now through next July, with the exception of July, August and September of this year, posted daily gains. By the session’s close, the average from now through the end of the year, finished at $15.37. Those nearby contracts that did close lower were largely influenced by a lower CME spot trade. 


Blocks fell a penny and a ¼ cents to finish at $1.52 after a single load traded hands. Barrels did not register trade, however, prices fell 4 and ½ cents on offers to finish at $1.27..Grade A nonfat dry milk hosted the greatest results with the greatest volume. Four loads move from seller to buyer. The market rose opinions recorders and finished at 78 and ½ cents. Butter was unchanged after 2 trades to again finish at 2 and ¼ cents. Dry whey remained unchanged as well with no trades registered. It finishes once more at 42 cents.

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