September 28, 2020

Dairy Markets Hold Steady

 |  By: Know Your Market

Monday was quiet in the dairy markets. The CME spot trade had Butter unchanged with no loads trading hands at $1.50 ¼, Cheddar blocks gained ¾ of a cent to 2.56 ¼ with 2 loads trading, and Barrels gained 1 ½ cents to 1.67 ½ with 1 load moving. 

Grade a Non fat Dry milk was a penny higher to 1.11/lb with 1 load moving from seller to buyer and Dry whey failed to move a load but had 4 bids to gain ¾ of a cent to $0.38 1/2/lb.

Though we saw the CME products all move unchanged to higher, milk just yawned. Small volume trade had us holding unchanged at 16.35, October fell 3 cents to 18.85, and November fell 14 to 18.39.

Class IV milk was unchanged and only saw loads trade in September holding at 12.71, October at 13.76, and November at 14.35. 

The grain and feed complex was mixed. Corn gained 1 ½ cents to 3.66 ¾, Chicago wheat gained 6 cents to 5.50 ¼, Soybeans fell 6 ¼ cents to 9.96 ¼ and soybean meal followed, falling $4.30 to $332.60/ton