September 24, 2020

Red Prevailed On The CME

 |  By: Know Your Market

Red prevails again on the CME as we see all commodities trade lower. The grain complex as well as milk moved lower on Thursday. Class III milk saw September gain 6 cents to 16.31, but October struggled all day and gave back 30 cents to 18.15/cwt. November fell 8 to 18.09/cwt. 2021 was quieter with moves unchanged to 16 cents lower.

Class IV milk was unchanged in Sep to 12.72, Oct fell 24 to 13.66, and Nov fell 16 to 14.20/cwt. 

This followed another CME spot trade with a lack of loads showing up. Butter continued its move lower falling 1 ¾ cents to 1.50 ¼ with 4 loads trading. Cheddar Blocks were unchanged with no loads trading hands to finish at $2.54/lb, and Barrels gained a quarter of a cent to 1.63 ¼ with 1 load moving from seller to buyer. 

Dry whey was unchanged and didn’t move a load, holding at $0.38 1/2/lb and Non Fat Dry Milk fell half a penny to $1.08/lb with 1 load trading.

Soybeans led the grain complex lower, falling 14 ½ cents to $10 even, corn followed moving 5 cents lower to 3.63 ½, and SOybean meal gave back $8.30 to $333.80/ton