Class III Futures Print Both Red And Green
Blocks and barrels both turned lower today with the spread widening to 52 cents in the CME Cash Dairy Product Trade. Blocks fell 1.75 cents to $2.15/lb. Barrels lost 4.50 cents to $1.63/lb. Butter traded 16 times today, settling at $1.4825. Grade A Nonfat Milk finished ¼ of a penny lower to $1.04/lb. Dry Whey added ¾ of a penny to $.3450/lb.
Class III milk futures printed both red and green today. September declined 16 cents to $16.46/cwt. October pushed 25 cents higher to $18.73/cwt. November rose 2 cents to $17.27/cwt. December milk lost 3 to $16.45/cwt. First half 2021 resides at $16.29/cwt.
Class IV milk was also mixed. October gained 3 cents to $13.67. November milk decreased 18 to $14.07. December milk dropped 17 to $14.37/cwt.
The grain complex was mixed ahead of tomorrow’s USDA supply and demand report. December corn surged 4.75 cents to $3.65/bushel. November soybeans bounced off $9.80, finishing at $9.7750/bushel. October soybean meal lost 20 cents to $312.70/ton. September Chicago Wheat added 6 cents to $5.40/bushel.
Fats and feeders both saw strength today. October live cattle gained 40 cents to $105.10/cwt. October feeders finished $1.35 higher to $139.60/cwt. October crude oil tumbled $1.02 to $37.03/barrel.