August 27, 2019

Dairy Markets Mixed While Grains Sit In Waiting

 |  By: Know Your Market

Butter bounced back on Tuesday on increased volume during the CME spot product trade. In all, 19 loads moved pushing the price 1 ¼ cent higher to $2.21. Cheese was mixed. Cheddar Blocks losing a quarter of a cent to $1.87 ¾ and Barrels gaining 1 ½ cents to $1.68 per lb.

Grade A nonfat dry milk saw 16 loads moving from seller to buyer and pushed the price ¾ of a cent higher to $1.04 ¾, while dry whey failed to move any load and was unchanged at $0.39 ½ per lb.

Class III milk was mixed. August unchanged at $17.60 per cwt, September gained 5 cents to $17.30, and October lost 6 cents to $16.50 per cwt. 2020 markets saw some softness. January – March was unchanged to 4 cents lower with the average at $16.36 per cwt. 

Class IV milk once again followed butter. August held steady at $16.66 per cwt, September and October gained 8 cents to $16.32 and $16.50 per cwt. 

Grain markets continue to wait for harvest information to move the market. December corn fell 2 cents to $3.66 ¼, November soybeans fell 8 cents to $8.59 ¼, and September soybean meal fell $1.50 to $291.50 per ton.