September 15, 2020

Butter Records Its 6th Highest Volume Ever

 |  By: Know Your Market

Global Dairy Trade Event 268 concluded with the GDT Price Index up 3.6%.  Butter index finished down 1.4% to $1.45/lb.  Cheddar increased 7.2% to $1.6650/lb.  Skim Milk Powder gained 8.4% to $1.04/lb.  Whole Milk Powder added 3.2% to $1.35/lb.    

Butter recorded its 6th highest volume ever today on 46 trades.  Butter gained 1.50 cents to $1.5050/lb.  Blocks and barrels both remained nonchanged with no bids or offers to be found.  Grade A Nonfat Milk added 2 cents to finish at $1.06/lb.  Dry Whey settled at 34.75 cents/lb.

Class III milk futures tumbled lower.  September milk lost 8 cents to $16.33/lb.  October milk descended 53 cents to $18.70/cwt.  November fell 28 cents to $17.37.  December finished 22 cents lower to $16.50/cwt.  

Class IV futures were mixed.  September lost 5 cents to $12.63/cwt.  October was up 2 cents to $13.51.  November added 15 to $14.08/cwt.  

The grain complex finished the day lower.  December corn declined 3.50 cents to $3.66/bushel.  November soybeans drifted 8 cents lower to $9.9150/bushel.  October soybean meal fell $2.70 to $314.30/ton.  December Chicago Wheat settled 7.50 cents lower to $5.3825/bushel.  October live cattle gained 22 cents to $107.10/cwt.  October feeders increased $1.10 to $143.70/cwt.  October crude oil improved $1.06 to $38.32/barrel.