July 28, 2020

Dairy Markets Tumble

 |  By: Know Your Market

In the CME cash dairy product trade, blocks and barrels both fell today and sit at $2.44/lb.  Butter lost 1.75 cents to $1.71/lb.  Grade A nonfat milk remains unchanged at 99 cents/lb.  Dry whey also stayed steady at 34.25 cents.

July was the only month in Class III to post a gain today.  July added 1 to $24.42/cwt.  August dropped 27 cents to $21.84/cwt.  September suffered a 42 cent move lower to $20.01/cwt.  October tumbled 32 cents to $18.58.  Class III Q4 average is $17.38/cwt.  Class IV prices remained relatively unchanged.  

The grain complex ended lower today.  December corn fell 4.50 cents to $3.30/bushel.  November soybeans declined 12.25 cents to $8.8750.  August soybean meal lost $3.60 to $288.90/ton.  September Chicago wheat was down 4.25 cents to $5.2350/bushel.  

Fats and Feeders ended the day higher.  August live cattle gained 47 cents to $100.90/cwt.  August feeders climbed $1.35 to $140.70/cwt.  September Crude Oil lost 64 cents to $40.96/barrel.