What Goes Up Must Come Down
What goes up, must come down. Class III milk gave back some of it’s recent gains Thursday on a quiet CME spot trade. December gained 2 cents to 19.37, January fell 31 cents to 18.60, and February fell 29 to 17.91/cwt. The First half 2020 Class III average is at 17.62/cwt.
Class IV milk was quieter falling 6 in December to 16.74, falling 2 in January to 17.04, and falling 1 in February to 17.33/cwt.
The CME spot trade saw only Butter and Non Fat Dry Milk trade hands. The two loads of butter moved the price 2 cents lower to $1.91 ½, Non Fat Dry milk was unchanged with 5 loads trading hands at 1.24 ¾. Dry whey also stayed unchanged with no loads trading at $0.36 3/4/lb
Cheese markets saw a couple of offers, but no bids or trades. Blocks fell a quarter of a cent to $1.97 ¼ and Barrels fell a penny to 2.24 ¼ /lb.
Grain and feed markets saw December corn fall 3 ¼ to 3.65 1/2, January Soybeans gained 6 ¼ to 8.84 ¼, and December Soybeanmeal gained $4.90 to $299.50/ton