cheese
July 9, 2020

Block Cheese Sets A New Record

 |  By: Know Your Market

The block cheese market set another record price today, surging 9.25 cents higher to $2.83/lb. on 5 trades.  Barrels remained unchanged at $2.40/lb.  Butter sits at 1.6875.  Grade A Nonfat milk was stagnant at $1.0325.  Dry Whey is unchanged at $.2875.  

Class III milk futures popped higher today.  July launched a 51-cent gain to $24.18/cwt.  August and September milk had limit moves today, to $22.28/cwt and $19.82/cwt.  October milk gained 44 cents to $18.37/cwt.  Quarter 4 2020 is now averaging $17.41.

Class IV milk futures were softer today.  September lost 4 cents to $14.99/cwt.  October milk suffered a 19-cent loss to $15.22/cwt.

The grain complex put together some solid gains today.  December corn added 2.75 cents to $3.57/bushel.  November soybeans gained 4.25 cents to $9.0150/bushel.  July soybean meal increased 3.50 cents to $295.10/ton.  September Chicago Wheat ascended 8.50 cents to $5.25/bushel.  August fats improved 10 cents to $99.25/cwt.  August feeders finished 47 cents higher to $134.52/cwt.  August crude oil declined $1.39 to $39.51.