markets
September 21, 2020

Dairy Markets Green In A Sea Of Red

 |  By: Know Your Market

Dairy is the only green in the sea of red on the CME, Monday. Class III and IV gained as we see a lack of loads trade on the spot CME trade. Butter gained 1 ½ cents with no trades to $1.61 ¼, Cheddar Blocks gained 2 cents to 2.64 ¾ with no trades, and Barrels were unchanged at $1.63 ½, also failing to move a load. Our block/barrel spread sets another record at $1.01 ¼ !

Grade A Non Fat Dry milk moved 3 loads to gain a penny to $1.08/lb and Dry Whey gained ¾ of a cent to $0.36 1/4/lb.

Class III Milk fell 3 in September to 16.26, but October gained 6 to 19.65, November gained 28 to 18.98. 2021 was unchanged to 3 higher. 

Class IV milk saw some nice movement and finished higher across the board. September gained 3 to 12.75, October gained 27 to 14.20, and Nov gained 31 cents to 14.67. 2021 was 1-15 cents higher. 

The grain and feed complex was lower. Corn fell 8 ¾ cents to 3.69 ¾, Soybeans fell 21 cents to 10.22 ½, Chicago wheat fell 20 ¼ to 5.54 ¾, and Soybean meal gave back $4 to $333.40/ton.