July 17, 2019

Class III Milk Surges Back

 |  By: Know Your Market

Class III milk surged back Wednesday. July finished unchanged at $17.31 but the remaining months saw double digit gains. August up 17 cents to $17.67, September also gained 17 to $17.89 and the second half averaged at $17.61/cwt. First quarter of 2020 also saw gains of 16-18 cents and averages at $16.75.

Class IV milk was not as robust. July fell 1 cent to $16.90, August gained 2 cents to 17.10 and the second half finished the day averaging $17.18/cwt

The CME Spot product trade saw butter fall 2 cents on busy trading to $2.41 ½ with 10 loads trading hands, Cheddar held unchanged. Blocks at $1.77 1/2/lb and Barrels at $1.69. No trades in either market.

Grade A non fat Dry milk fell ¾ o f a cent to $1.01 ¾ and Dry Why gained a quarter of a cent to $0.32 1/2/lb.

Grain and Feed prices were mixed on Wednesday December corn gained a quarter of a cent to $4.41 ¾, November Soybeans fell 5 ½ to $9.00 ½ /bu, and Aug Soybean meal finished the day down $0.90 to $307.50/ton.