Butter Records Its 6th Highest Volume Ever
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.