Milk Markets Mainly Mixed To End The Week
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.