July 8, 2020

Despite Mixed Trade, Q3 Class III Average Still Above $20

 |  By: Know Your Market

Blocks and barrel cheese continue its move higher today.  Blocks added 2.75 cents to $2.7375/lb. on 5 trades.  Barrels gained 3 cents to $2.40/lb.  Butter melted 5 cents to $1.6875/lb.  Grade A nonfat milk and dry whey remained steady at $1.0375 and $0.2875/lb.  

Class III milk futures prices were mixed today.  July milk climbed 31 cents to $23.75/cwt.  August was up 2 to $21.52.  September milk declined 10 cents to $19.03/cwt.  The quarter 3 average sits at $21.43/cwt.  Quarter 4 2020 average settled at $17.15/cwt.  

Class IV milk futures were once again thinly traded, with only September moving 16 cents lower to $15.03/cwt.  Second half average settled at $15.13/cwt.

December corn added 1.75 cents to $3.5425/bushel.  November soybeans declined 5.25 cents to $8.9725.  July soybean meal fell $1.70 to $291.60/ton.  September Chicago Wheat had an impressive day, jumping 21.25 cents to $5.1650/bushel.  Fats and feeders both trended lower today.  August live cattle fell 85 cents to $99.15/cwt.  August feeders dropped 87 cents to $134.05/cwt. 

August crude oil gained 29 cents to $40.99.