Class III Inching Closer To $20
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.