Butter Moves Higher, Class IV Follows
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.