Q4 Looks Brighter For Class III
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.