October 1, 2020

Class III Inching Closer To $20

 |  By: Know Your Market

Barrels climbed a dime to $1.90/lb in the CME Cash Dairy Product Trade.  Block cheese gained ½ of a cent to $2.5775.  Butter remains at $1.51.  Grade A Nonfat Milk gave up half a penny, after posting a week straight of gains.  Dry Whey added half a penny to $.39/lb.  


Class III milk futures reacted favorably to the strength in barrel cheese today.  October milk settled just under $20.00 at $19.98/cwt.  November finished 48 cents higher to $19.11/cwt.  December rallied 30 cents to $17.83.  First half 2021 gained 2-14 cents for an average of $16.55/cwt.  Class IV milk futures saw little movement today.  


The grain complex was far less exciting today.  December corn extended yesterday’s gains, climbing 3.75 cents to $3.8275/bushel.  November soybeans settled unchanged at $10.2350/bushel.  October soybean meal rallied $5.30 to $345.00/ton.  December Chicago Wheat fell 7.75 cents to $5.7025/bushel.  Fats and feeders finished slightly lower.  October Live Cattle lost 2 cents to $108.52/cwt.  October feeder cattle decreased 42 cents to $140.92/cwt.  November Crude Oil tumbled $1.51 to $38.71/barrel.