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$18 Milk and $2 Cheese in Chicago Monday


On the Chicago Mercantile Exchange front-month milk futures pushed past the $18 mark which cheese prices had strong support Monday. Block cheese had the highest close since November of 2011.  Class III milk surged higher nearby, but 2020 markets were not as excited. September hit $18.07, up 11 cents, October was a biggest mover, gaining 21 cents to $17.93 per cwt. Nearing the late July peak at $18.05. November gained 11 to $17.47 per cwt. January – March of 2020 saw gains of 4-8 cents to finish with an average of $16.31 per cwt. Class IV milk was a different story. September fell 6 cents to $16.20, October was unchanged at $16.25, and November fell 16 cents to $16.24 per cwt. January – March of 2020 was unchanged to down a penny. Averaging at $16.70 per cwt.

Dry whey down $0.0150 at $0.38. One trade was made at that price. Blocks up $0.0025 at $2.00. Six trades were made at $1.9975 and $2.00. Barrels up $0.0675 at $1.80. Two trades were made at that price. Butter up $0.0025 at $2.1725. Thirteen trades were made ranging from $2.17 to $2.18. Nonfat dry milk down $0.0075 at $1.04. One trade was made at that price.

Grain and feed markets continue to be flat. December corn fell 1 ¼ to $3.54 ¼, November soybeans were unchanged at $8.57 ¾, and September soybean meal gained $1.30 to $288.50 per ton.


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