Missouri Dairy Business UpdateCommercial Agriculture
Volume 2, Number 6

June 2002

Milk Prices

Futures Markets: Not much good news on the milk price front. Futures prices continue to drop. It will take hot weather and a drop in milk production to turn the market around.

Milk Futures on the Chicago Mercantile Exchange
6/20/2002
 JulyAugustSeptemberOctoberNovemberDecember
 
Class III$ 9.99$ 10.57$ 11.24$ 11.10$ 11.00$ 11.00
Class IV$ 10.50$ 10.45$ 10.70$ 10.70$ 10.70$ 10.17
Source: Merc website: http://www.cme.com/prices/index.cfm

USDA Outlook

The USDA outlook doesn't look anymore optimistic than the futures market at this time.

Current USDA Milk Price Forecasts
17-Jun-02
 3rd Q 20024th Q 20021st Q 2003
Class III Price$10.45 to $10.95$11.20 to $12.00$10.65 to $11.65
Class IV Price$10.75 to $11.35$10.90 to $11.80$10.65 to $11.75

Source: USDA, ERS, Livestock, Dairy & Poultry Outlook
http://www.ers.usda.gov/publications/so/view.asp?f=livestock/ldp-mbb/

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