Class III Milk To Average US$14.00/cwt In 2010

August class III milk looks set to continue drifting sideways within the US$12.75-14.75/cwt range over the coming weeks. The contract has been weighed down by a stronger US dollar coupled with a general deterioration in investor sentiment towards commodity markets. Nonetheless, we identify multi-month trendline support in the US$12.75/cwt area and in the event of further declines, we would expect this level to offer significant support.

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