money
September 29, 2020

Q4 Looks Brighter For Class III

 |  By: Know Your Market

Blocks and barrels trended higher in the CME Cash Dairy Product Trade.   Blocks gained ¼ of a penny to $2.6250/lb.  Barrels climbed 5.50 cents to $1.73/lb.  Butter added ¾ of a penny to $1.51/lb.  Grade A Nonfat Milk continues it move higher, increasing 2 cents to $1.13/lb.  Dry Whey remains at $.3850/lb.

 

Class III futures prices pushed higher in Q4 while 2021 was mixed.  October milk finished 38 cents higher to $19.23/cwt.  November milk climbed 18 cents to $18.57/cwt.  December gained 3 to $17.45/cwt.  Class IV futures increased today with January and February surging 20-26 cents.  

 

The grain complex ended lower.  December corn lost 2 cents to $3.6475/bushel.   November soybeans declined 3.25 cents to $9.93/bushel.  December Chicago Wheat fell ¾ of a cent to $5.4950/bushel.  Fats and feeders traded higher today.  October live cattle increased 95 cents to $108.90/cwt.  October feeders surged $2.00 to $142.95/cwt.  November crude oil tumbled $1.60 to $39.00/barrel.