Class III Inching Closer to $20
June 3, 2020
In the CME Cash Dairy Product Trade cheddar blocks paused at their historical highs of $2.5050/lb. Barrels are playing catch up, jumping 9.75 cents to $2.31/lb. Butter gained .0050 to $1.7250. Grade A Nonfat Milk rose .0025 to $1.0175/. Dry Whey gained 1.75 cents to .3275/lb.
Class III milk futures continued its tear higher. June milk touched $20.00 before settling at $19.85/cwt. July milk ascended 48 cents to $18.74. August milk added 30 cents to $17.40/cwt. Second half 2020 gained 8-48 cents to $17.20/cwt.
Class IV milk futures also saw an impressive move higher today. June milk skyrocketed 59 cents to $14.20/cwt. July milk climbed 22 cents to $15.30. August milk added 52 cents to $15.84/cwt. Second half 2020 improved 11-52 cents to $15.90/cwt.