Missouri Dairy Business UpdateCommercial Agriculture
Volume 2, Number 7

July 2002

Fall Milk Prices:

Futures Markets July 17, 2002

Not much good news on the milk price front. Futures prices eased lower this month.

Milk Futures on the Chicago Mercantile Exchange
7/17/2002
 JulyAugustSeptemberOctoberNovemberDecember
 
Class III$ 9.35$ 10.20$ 11.65$ 11.71$ 11.74$ 11.61
Class IV$ 10.50$ 10.50$ 10.70$ 10.70$ 10.70$ 10.70
Source: Merc website: http://www.cme.com/prices/index.cfm

USDA Outlook July 16, 2002

"Heavy commercial stocks of dairy products continue to be a dominant factor in dairy price prospects. With sizable increases in milk production, sluggish commercial use of dairy products pushed stocks to large levels this spring. These large holdings will overhang dairy markets for some time to come."

Current USDA Milk Price Forecasts
16-July-02
 3rd Q 20024th Q 20021st Q 2003
Class III Price$9.40 to $9.80$10.10 to $10.80$9.65 to $10.65
Class IV Price$10.25 to $10.75$10.50 to $11.30$10.00 to $11.10

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

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