August 11, 2020

Butter Moves Higher, Class IV Follows

 |  By: Know Your Market

Butter was the lone product to post a gain in the CME Cash Dairy Product Trade.  Butter added 4.50 cents to $1.5225/lb.  Block cheese fell 5 cents to $1.58/lb.  Barrel cheese finished 3.50 cents lower to $1.4450/lb.  Grade A Nonfat Milk lost ¼ cent to 94 cents/lb.  Dry Whey lost half a penny to 31 cents/lb.  

Class III milk futures were mixed today.  August milk lost 4 cents to $19.39/cwt.  September gained 7 cents to $16.31.  October added 15 cents to $16.69/cwt.  November milk climbed 9 cents to $16.60/cwt.  December milk increased 5 cents to $16.27/cwt.  1st half 2021 settled 5-21 cents higher at an average of $16.38/cwt.

Class IV milk futures increased slightly.  August milk remains at $13.16/cwt.  September ascended 12 cents to $13.20/cwt.  October surged 17 cents higher to $13.68/cwt.  First half 2021 average is $14.98/cwt.  

The grain complex saw modest gains today.  December corn added ½ a penny to $3.2350/bushel.  November soybeans inched a ¼ cent higher to $8.7350/bushel.  September Chicago Wheat climbed 2.75 cents to $4.95/bushel.  August Live Cattle rallied $1.05 to $104.65/cwt.  August feeders gained 92 cents to $144.40/cwt.  September Crude Oil declined 39 cents to $41.55/barrel.