July 15, 2019

Class III Milk Continues Its Fall

 |  By: Know Your Market

Ag markets saw a set back Monday across the board. Class III milk fell as Cheese again sold off from its highs. The CME spot product trade saw Cheddar Blocks fall 2 ¼ cents to $1.76 1/4/lb 10 cents off its peak at $1.86 ½ on July 1st. Cheddar barrels followed, falling 2 ¾ cents to $1.71 ¼. Butter however gained 1 ¾ cent to $2.43 /lb.

Grade A Non Fat Dry Milk was unchanged at $1.02 ¾ and Dry whey fell a quarter of a cent to $0.32 even.

Class III milk continue to fall. July finished down 2 to $17.33, August was down 12 to $17.43 and September fell 10 to $17.62. The second half averaged at $17.40/cwt.

Class IV milk  was unchanged in July at $16.91, fell 4 cents in Aug to $17.02 and Class IV averaged $17.12/cwt.

Grain and feed markets also saw a step back after higher opens on Sunday night. December corn finished down 12 ¼ to 4.47 even, November Soybeans down 11 ½ to $9.20 and August Soybean meal fell $3.20 to $311.60/ton. December Chicago Wheat fell 15 cents to 5.20.