Class III Scowls at Lower Cheese Prices
In the CME Cash Dairy Product Trade, blocks fell 1 penny to $2.99/lb. Barrels added 1.75 cents to $2.42/lb. Butter gained 1.75 cents to $1.7450/lb. Grade A Nonfat Milk remained unchanged at $1.0150/lb. Dry Whey climbed a quarter cent to 32 cents/lb.
Class III milk futures reacted negatively today as cheddar blocks were down lower. July remained even at $24.34/cwt. August milk dropped 44 cents lower to $22.96/cwt. September milk declined 62 cents to $20.09/cwt. Quarter 4 2020 descended 27-45 cents for an average of $17.43/cwt.
Class IV milk futures settled even to higher today. July milk remains at $14.03/cwt. August gained 16 cents to $14.51/cwt. The second half of 2020 is averaging $14.86.
The grain complex ended up mixed today. December corn fell 2.75 cents to $3.3375/bushel. November soybeans added 2.25 cents to $8.7750/bushel. July soybean meal climbed 60 cents to $283.70/ton. September Chicago Wheat improved 2 cents to $5.2675/bushel.
Fats and feeders ended the day lower. August live cattle finished 85 cents lower to $98.80/cwt. August feeders declined 32 cents to $136.72/cwt. August crude oil added 20 cents to $40.28.