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Dairy Markets Green In A Sea Of Red

Know Your Market


September 21, 2020



Dairy is the only green in the sea of red on the CME, Monday. Class III and IV gained as we see a lack of loads trade on the spot CME trade. Butter gained 1 ½ cents with no trades to $1.61 ¼, Cheddar Blocks gained 2 cents to 2.64 ¾ with no trades, and Barrels were unchanged at $1.63 ½, also failing to move a load. Our block/barrel spread sets another record at $1.01 ¼ !


Grade A Non Fat Dry milk moved 3 loads to gain a penny to $1.08/lb and Dry Whey gained ¾ of a cent to $0.36 1/4/lb.


Class III Milk fell 3 in September to 16.26, but October gained 6 to 19.65, November gained 28 to 18.98. 2021 was unchanged to 3 higher. 


Class IV milk saw some nice movement and finished higher across the board. September gained 3 to 12.75, October gained 27 to 14.20, and Nov gained 31 cents to 14.67. 2021 was 1-15 cents higher. 


The grain and feed complex was lower. Corn fell 8 ¾ cents to 3.69 ¾, Soybeans fell 21 cents to 10.22 ½, Chicago wheat fell 20 ¼ to 5.54 ¾, and Soybean meal gave back $4 to $333.40/ton.


Milkbusiness.com