August 2, 2019

Dairy Markets Rally Higher To End The Week

 |  By: Know Your Market

In closing off the week on Friday, the ag markets were mixed but big moves were the result in almost every market. The dairy space watched as Class III prices climbed 6-15 cents in 2019. The August through December average closed the week at $17.48 per cwt. 2020 Class III markets traded positively as well. Class IV milk was weaker on Friday losing 3-14 cents. 

CME spot product markets had just one market with activity. Butter lost 2.5 cents following 4 trades closing at $2.32 per lb. For the week, barrel cheese moved the greatest amount of product at 24 loads. Butter changed the most in price for the week falling 2.75 cents. 

The corn market bounced back finally as prices added back 7 cents of value. Soybeans traded 3 cents higher while soybean meal was down a buck per ton. The wheat complex added 10 cents in Chicago, 5 in Kansas City and 2 in Minneapolis. Fat cattle dropped a buck in the fats, $3.50 in the feeders and hogs were down as much as limit. Crude oil jumped $1.25 a barrel while diesel was up 2.5 cents a gallon.


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