Class III milk prices roared back higher after some softness early in Monday’s session on the Chicago Mercantile Exchange. July Class III milk was up $.06 at $24.32 and August was up $.76 at $23.24, while September was up $.75 at $20.73 and October was up $.75 at $19.09 The milk futures from November through next June ranged from zero to sixty-four cents higher. Class IV markets ended the day mixed.
Product values ended with fairly modest changes. Dry whey was unchanged at $.3350 cents per pound. No sales were recorded. Forty-pound cash cheese blocks were up $.0025 at $2.6625 per pound. There were three sales recorded from $2.66 to $2.6625. Barrels were up $.02 at $2.45 per pound. Four sales were recorded from $2.43 to $2.45. Grade AA Butter was down a penny at $1.68 per pound. Eleven sales were recorded from $1.6750 to $1.71. Nonfat dry milk was down $.01 at $.99 per pound. One sale was recorded at that price.
In other markets wheat weakened 12 cents in Chicago and 13 in Kansas City, respectively. Minneapolis declined 6. Wheat put pressure on corn as corn lost 4 cents in December and moved to $3.35 ¾. Cattle dropped $1 in both the fats and feeder markets while hogs doubled that, falling $2 per cwt.
