August 14, 2020

Class III Milk Futures Printed Green To Finish The Week

 |  By: Know Your Market

Spot cheese ended the week on a higher note in the CME Cash Dairy Product Trade.  Cheddar blocks surged 12 cents higher to $1.82 on 9 trades.  Barrels remained unchanged at $1.50/lb.  Butter added 3.50 cents to $1.4850/lb.  Grade A Nonfat Milk lost half a penny to 96.50 cents/lb.  Dry Whey gained 1.50 cents to 32.50 cents/lb. 


Class III milk futures printed green to finish the week.  August milk climbed 11 cents to $19.89/cwt.  September improved 33 cents to $16.92/cwt.  October pushed 17 cents higher to $17.34/cwt.  2021 settled unchanged to 14 cents higher.


Class IV futures were mixed.  August milk fell 6 cents to $13.10/cwt.  September milk gained 11 cents to $13.35.  October finished 29 cents higher to $14.19.  First half 2021 average is $15.11/cwt.


Corn and Soybeans could not extend their impressive gains yesterday.  December corn lost ¾ of a penny to $3.38/bushel.  November soybeans also dropped ¾ of a penny to $8.9875.  September soybean meal decreased 30 cents to $291.80/ton.  September Chicago Wheat added 3.25 cents to $5.00/bushel.  August live cattle settled 55 cents higher to $107.60/cwt.  August feeders fell $1.02 to $143.92/cwt.  September crude oil declined 17 cents to $42.07/barrel.