Block Cheese Sets A New Record
July 9, 2020
The block cheese market set another record price today, surging 9.25 cents higher to $2.83/lb. on 5 trades. Barrels remained unchanged at $2.40/lb. Butter sits at 1.6875. Grade A Nonfat milk was stagnant at $1.0325. Dry Whey is unchanged at $.2875.
Class III milk futures popped higher today. July launched a 51-cent gain to $24.18/cwt. August and September milk had limit moves today, to $22.28/cwt and $19.82/cwt. October milk gained 44 cents to $18.37/cwt. Quarter 4 2020 is now averaging $17.41.
Class IV milk futures were softer today. September lost 4 cents to $14.99/cwt. October milk suffered a 19-cent loss to $15.22/cwt.
The grain complex put together some solid gains today. December corn added 2.75 cents to $3.57/bushel. November soybeans gained 4.25 cents to $9.0150/bushel. July soybean meal increased 3.50 cents to $295.10/ton. September Chicago Wheat ascended 8.50 cents to $5.25/bushel. August fats improved 10 cents to $99.25/cwt. August feeders finished 47 cents higher to $134.52/cwt. August crude oil declined $1.39 to $39.51.