July 31, 2020

Class III Finds Some Support

 |  By: Know Your Market

As we head into the weekend, Class III milk found some support when the CME spot trade was primarily lower. The spot trade had Cheese fall again, but found buyers. Cheddar Blocks fell 4 ¼ cents on 3 trades to $2.25 1/4, and cheddar barrels fell 12 ½ cents to 2.23 ½. We finish the week with the block/barrel spread sitting at 1 ¾ cents. 

Butter was unchanged on 5 trades at 1.60 ¾. Grade A Non Fat Dry Milk fell 1 ¼ cents to $0.97 ¾ cents but only 1 load found a buyer and seller. Dry whey was our one product to move higher, gaining ¼ cent to $0.34 1/4/lb on 4 trades. 

Class III milk saw green across all of 2020 and 2021. July gained 1 to 24.55, Aug gained 23 to 21.03, and Sept gained 16 to 18.92/cwt. 

Class IV milk was quiet with almost all of 2020 unchanged. July at 13.66, August 13.33, and Sept at 13.65/cwt.

Grain markets also finished the week quietly. Corn gained a quarter cent to 9.16 even, Soybeans gained 5 ¾ to 8.97 ½, and Soybean meal fell 50 cents to $289.30/ton.