Class III finished stronger on the heels of yesterday’s Section 32 announcement at the Chicago Mercantile Exchange. June Class III milk futures were up 69 cents at $13.63. July 44 higher at $14.78. August through October 18 to 42 higher. Class IV milk futures were positive as well. June milk skyrocketed 49 cents to $11.15. July leapt 38 cents to $11.50/cwt. August was up 50 to $12.25/cwt. Second half 2020 climbed 28-50 cents and now resides at $12.70/cwt.
We saw continued strength in the CME Cash Dairy Product Trade. Dry whey up $0.0025 at $0.40. Blocks up $0.0450 at $1.2575. Barrels $0.01 higher at $1.24. Seven trades made, with a range of $1.2125 to $1.25. Butter steady at $1.1950. Nonfat dry milk unchanged at $0.8050.
Spot corn gained 2.25 cents to $3.13/ bushel. December corn sits at $3.3425/bushel. May soybeans rose 4.25 cents to $8.38 and ¼ cent. November soybeans gained ¾ cent to $8.46 and a half cent. September Chicago Wheat finished 1.75 cent higher to $5.23 and 3/4. June feeder cattle dropped $1.60 to $86.47/cwt. August feeder cattle fell 72 cents to $128.25. June Crude Oil blasted $4.17 higher to $24.56.
