Corn sets new high as CME spot product markets fall.
A combined 1.653 billion lbs. of butter and cheese remain in storage.
The majority of commodity markets jumped following news of a coming trade deal between China and the U.S. to avoid a trade war.
Milk futures have been steadily increasing with gains of about $1.00 per cwt over the past two months. Last year showed a similar pattern only with slightly different timing.
It was a quiet day in the CME spot trade, so the milk market had to look elsewhere for its excitement. In the spot trade, only four total loads across all…
Check out this video explaining Canada's dairy supply management program.
Despite a continued sell off in the cheese spot markets, milk futures held their ground.
With the Global Dairy Trade auction up nearly 2%, butter and Class III markets traded higher on Tuesday.
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