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  • ZISK

Class III Futures Continue Their Freefall

June 16, 2021

Lots of trades changed hands in the block and barrel market during the CME Cash Dairy Product Trade. Blocks added half a penny to $1.51/lb on 10 trades. Barrels slid 2.25 cents to $1.6350/lb on 18 trades. Butter remains at $1.8050/lb. Grade A Nonfat Milk has continued falling, now sitting at $1.2650/lb. Dry Whey lost ¾ of a penny to $.5925/lb.

Class III milk futures have continued their freefall, with the third quarter seeing the brunt of the weaker price action. June milk gained 7 cents to $17.32/cwt. July milk fell 5 cents to $17.08/cwt. August milk decreased 21 to $17.76/cwt. Class IV milk futures moved lower on very little volume.

Soybeans stumbled lower once again. November soybeans dropped 30.25 cents to $13.4325/bushel. December corn lost 1.25 cents to $5.7250/bushel. July soybean meal surged $6.80 to $379.20/ton. Chicago Wheat was mostly stagnant.

Cattle and lean hogs saw both red and green. August live cattle gained $1.02 to $124.92/cwt. August feeders were up $1.15 to $159.80/cwt. August lean hogs finished limit down to $111.70/cwt. July crude oil declined 29 cents to $71.83/barrel.



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