Dairy Markets Tumble
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.