On the Chicago Mercantile Exchange milk futures were again higher Tuesday on spillover optimism from traders. Class III futures sold off as the day went on. October milk gained 2 cents to $21.19/cwt. November was able to post a 13 cent gain to $20.61 after trading as high as $20.89. December milk turned 6 cents lower to $18.09/cwt. January through June saw +1 to -8 cents on the day. First half 2021 average is $16.62/cwt. Class IV moved higher with November climbing 26 cents to $14.19. January also saw strength, settling 32 cents higher to $14.72/cwt.
Blocks and barrels added to their Monday gains in the CME Cash Dairy Product Trade. Blocks up $0.0250 at $2.7175. One trade was made at that price. Barrels up $0.03 at $2.14. One trade was made at that price. Dry whey down $0.0025 at $0.3925. One trade was made at that price. Butter up $0.06 at $1.4750. Seven trades were made ranging from $1.4350 to $1.4750. Nonfat dry milk up $0.0075 at $1.1375. Two trades were made at $1.13 and $1.1375.
The grain complex was a mixed bag today. December corn finished 2 cents higher to $3.9125/bushel. November soybeans rebounded after yesterday’s loss, gaining 10.25 cents to $10.44/bushel. October soybean meal was up $1.80 to $358.50/ton. December Chicago Wheat fell ¼ of a penny to $5.94/bushel.
