Grain Markets See Fireworks, Dairy Markets Hold Steady
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.