August 21, 2020

Milk Markets Mainly Mixed To End The Week

 |  By: Know Your Market

Butter saw a weekly volume of 79 loads changing hands in the CME Cash Dairy Product Trade.  Barrels may have found some support, trading 14x today to settle at $1.33/lb this week.  Blocks lost 1 penny to $1.65/lb.  Grade A Nonfat remained unchanged at 99.75 cents/lb.  Dry Whey fell a ¼ cent to 33.50 cents/lb.  


Class III milk futures were mixed.  August milk remains at $19.60/cwt.  September milk gained 9 cents to $15.13/cwt.  October lost 2 cents to $16.33/cwt.  First half 2021 average settled at $16.13/cwt.  Class IV futures saw only November gaining 7 cents to $14.36/cwt.  First half 2021 average settled at $15.91/cwt.  


The grain complex was relatively quiet to finish the week.  December corn gained 1.25 cents to $3.4050/bushel.  November soybeans fell half a penny to $9.0475/bushel.  September soybean meal declined $3.60 to $290.20/ton.  September Chicago Wheat climbed 7.75 cents to $5.2725/bushel.  


The August Cattle on Feed Report was bearish with a 2 percent gain YoY.  August Live Cattle decreased $1.22 to $105.80/cwt.  August Feeder Cattle lost 50 cents to $142.92/cwt.  October Crude Oil declined 56 cents to $42.26/barrel.