July 10, 2020

Class III Moves $1.42 Higher on Expanded Trading Limits

 |  By: Know Your Market

Record blocks prices continued with Friday’s CME spot market. Blocks traded at $2.9150 with 6 loads trading hands and 2 bids left as we gain another 8 ½ cents. Barrels however fell 6 cents to $2.34 /lb with no trades, no bids and 3 offers. Butter finished the week gained a quarter of a cent on 5 trades to 1.69/lb.

Powders were mixed with Grade A Non Fat Dry milk falling 1 ¾ cents to $1.01 ½ and Dry whey was unchanged at $0.28 3/4/lb. 

Class III milk traded with extended limits Friday and touched at $1.42 higher in August. We finished the day with July up 3 to $24.20, Aug gained 76 to $23.04, and Sept up 46 to $20.28.

Class IV slid lower on quiet trading. Jul down 6 to $14.04, Aug down 5 to $14.45, and Sept down 25 to $14.72.

Grain markets moved sharply lower following a fairly neutral World Ag Supply and Demand Report with December corn falling 12 ¼ to $3.44 ¾, Nov soybeans fell 10 ¾ to $8.90 ¾, and soybean meal fell $4.30 to $290.80/ton.