Milk
August 31, 2020

Grain Markets See Fireworks, Dairy Markets Hold Steady

 |  By: Know Your Market

Blocks and barrels continue to see steady volume in the CME Cash Dairy Product Trade.  Blocks decreased 3 cents to $1.7975/lb on 9 trades.  Barrels gained ¾ of a penny to $1.4375 on 7 trades.  Butter climbed 4 cents to $1.4875/lb.  Grade A Nonfat milk continued higher with a half a penny move to $1.0250/lb.  Dry Whey fell half a penny to $.3350/lb.  

 

Class III futures were a mixed bag.  August gained 1 penny to $19.77/cwt.  September added 4 cents to $15.73/cwt.  October climbed 20 cents to $17.84/cwt.  First half 2021 average settled at $16.34/cwt.  

 

September class IV milk increased 8 cents to $13.04/cwt.  Quarter 4 2020 is averaging $14.25/cwt.

 

The grain market saw fireworks on the overnight Sunday trading session before selling off some of the gains midday.  December corn traded as high as $3.6425 before settling lower to $3.5775/bushel.  November soybeans were up 3 cents to $9.5350/bushel.  September soybean meal finished $3 higher to $304.60/ton.  September Chicago Wheat climbed 5 cents to $5.4425/bushel.  Fats and feeders started the week on a higher note.  October Live Cattle rose 40 cents to $105.30/cwt.  October feeders ended 45 cents higher to $140.62/cwt.  October crude oil fell 15 cents to $42.82/barrel.