On the Chicago Mercantile Exchange commodities across the board had an atrocious day. Class III milk futures showed no mercy today. April tumbled 49 cents to $14.83. May milk had 72 cents ripped out to $13.15 per cwt. June milk was the biggest loser, finishing limit down at $13.25. Second half 2020 lost 30-67 cents and is now averaging $14.75 per cwt.
Class IV milk was not spared in the dairy beatdown. April, May, and June did not have any trades today. July milk suffered a 66-cent loss to $12.18 per cwt. August fell 38 cents to $12.85. September milk finished limit down to $12.75 per cwt. Second half 2020 is now averaging $12.96 per cwt.
It was an absolute train wreck in the CME Dairy Product trade today as blocks where down $0.1525 at $1.4375. Barrels down $0.04 at $1.30. Six trades were made, with a range of $1.2950 to $1.30. Butter $0.09 lower at $1.3975. Nonfat dry milk down $0.0250 at $0.8950. Thirty-one trades made, ranging $0.8725 to $0.8950. Dry whey steady at $0.33.