A mixed cheese trade couldn’t slow Class III milk’s big move higher to kick off the week. Milk futures on the Chicago Mercantile Exchange closed higher Monday as strong block cheese demand continues to drive markets. Class III milk futures strengthened 28 cents in July to $23.25 per cwt. August led the pack jumping 65 cents to $21.60. September through December gained 13-27 cents per cwt. 2021 prices gained 13-27 cents per cwt. 2021 prices gained modestly as well. Class IV prices traded 18 higher in August and 11 stronger in September.
Dry whey down $0.0175 at $0.3125. Blocks up $0.0250 at $2.70. Five trades were made ranging from $2.6950 to $2.70. Barrels down $0.0450 at $2.37. Two trades were made at $2.37 and $2.39. Butter up $0.0075 at $1.7450. Nonfat dry milk up $0.0025 at $1.0125.
Over in the grain complex, futures added value following last Thursday’s selloff. Corn closed at $3.56 ¼, up 2 ¾. Soybeans ran 9.5 higher for new crop and ended at $9.06 ¼. Wheat added 1-4 cents. Live and feeder cattle both added around $1 per cwt on Monday.