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Dairy follows commodities which follow financials
Tuesday, July 24, 2012 21:32
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Cash cheese held steady, butter and nonfat dry milk nudged a little higher yet Class III futures dropped again on the Chicago Mercantile Exchange on Tuesday. We saw 11 to 32-cent losses from August through February Class III contracts and all are below the $19.00 mark once again. Basically the Class III markets are following commodities which are following the financial markets. Growing concerns about the economic situation in Europe pushed the Dow Jones Industrial Average down for the third day in a row. Commodities traders are doing some profit taking off the record-highs of last week.
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