Well here I was expecting a quite day with no real big changes going into a holiday weekend. I thought brokers would be sitting around and just talking about what they were going to grill and how much landscaping they might have to do for the little woman. Alas I was SOOOO wrong!
Major announcement:
http://www.cwt.coop/sites/default/files/news_releases/Herd%20retirement%20announcement%20052710.pdf
Second major announcement:
After losing 26 cents in the June contract for class III milk on tuesday we are now up 29 cents since then with a 17 cent rally just yesterday.
Third major announcement
Briefly I will summerize the link Red meat supplies down 16% dfrom a year ago.
Whats it all mean? WE have an underlieing fundamentall bullish price forcast for milk into the next year for price. Then as markets always do we find something that expands the bullishness ie. the CWT herd buyout, And this time we are not going to be overburdening the supply of beef because we are already lower on our stocks!
Maybe I have been looking for something that is really bullish milk for too long and maybe yesterday will be a buy the rumor and today will be sell the fact but all in all I still view this as a pretty good indication of things to come. Thats all from the parlor pit. Hope it brightens your day. Disclaimer: Don't follow my advice I never do! 
JR
