market
September 8, 2020

Higher Cheese Trade, Lower Class III Prices

 |  By: Know Your Market

Another round of higher cheese trade ended with the Class III price faltering on Monday.  This has become the norm the last week or so with a bid in blocks and barrels only to have red on the Class III board.  Barrel cheese rose 1.5 cents on three trades to $1.715lb.  Blocks added 2.75 cents of value ending at $2.1525/lb, four loads moved from seller to buyer.  Butter gained $0.75/lb to $1.50 on a bid.  Dry whey and nonfat dry milk both settled the day unchanged.

 

Class III milk declined $0.22/cwt in September on Monday to $16.84.  October lost $0.06, November dropped $0.15, and December was down $0.13/cwt.  The fourth quarter 2020 average sits at $17.58/cwt.  2021 prices were a mixed bag closing anywhere from $0.08/cwt lower to $0.02/cwt higher.  Class IV had little trade with results in 2020 mainly unchanged.

 

Corn and soybean prices were all over the place on Monday.  Corn traded 3.75 cents higher and closed at $3.6175/bu despite trading lower to begin the session.  Soybeans acted similar settling 5 cents higher to $9.73/bu.  This is the highest close since January 14th with the one year high of $9.8275 in its sights.  Soybean meal lost $2.5/ton and the wheat complex fell 3-8 cents/bu.