Class III Milk Bounces Back
Volatility continues as Class III bounces back Wednesday. September Class III traded almost a $1.30 range higher and lower to settle the day in the green. August finished the day 27 higher to $19.55, September up 33 to $17.00 and October finished 53 higher to $17.34/cwt. Fourth quarter of 2020 is averaging at $17.09/cwt as November finished 76 higher and December gained a whopping 60 cents back.
Class IV milk also surged higher. August up 23 to $13.08, Sept up 8 at $13.02, and Oct up 35 cents to $13.50/cwt.
July Class III price was announced at $24.54/cwt, Class IV at $13.76.
This all came after a giant volume trade in the CME spot market. Butter ran up 11 ½ cents on 3 trades to $1.54/lb., blocks fell 11 ½ cents but 9 loads moved from seller to buyer to finish at $1.81 ½ /lb. Barrels also traded 9 loads falling 17 ¼ cents to $1.64 ¼ /lb.
Our dairy powders were mixed. Grade A nonfat dry milk gained 2 ¾ cents on 1 trade to $0.97 ¼ /lb. Dry whey fell a penny on 8 trades to $0.32/lb.