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August 6, 2020

August The Only Month To Show Gains In Class III

 |  By: Know Your Market

It was quiet day in the CME Cash Dairy Product Trade.  Blocks and Barrels found support, at least temporarily, remaining unchanged at $1.8150 and $1.6425/lb. Butter added 1.75 cents to $1.5575/lb on 9 trades.  Grade A Nonfat Milk lost 1.75 cents to $.9550/lb.  Whey remains at $.32/lb.  

August was the only month able to post a gain in Class III.   August milk climbed 29 cents to $19.84/cwt.  September milk fell 9 cents to $16.91.  October declined 20 cents to $17.14.  November milk tumbled 31 cents to $16.91.  First half 2021 is averaging $16.33/cwt.  

Class IV milk saw mild gains.  August ascended 9 cents to $13.16/cwt.  September settled at $13.02.  October milk increased 13 to $13.63.  First half 2021 average settled at $14.96/cwt.

The grain complex was mixed.  December corn inched ½ of a penny higher to $3.2375/bushel.  November beans fell ¾ of a penny to $8.78.  August soybean meal declined $1.60 to $280.70/ton.  September Chicago Wheat decreased 9.50 cents to $5.0125.  October Live Cattle lost 47 cents to $106.97/cwt.  September feeders dropped 60 cents to $145.87.  September crude oil fell 18 to $42.01/barrel.