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Dairy Markets Mixed in Chicago Wednesday

On the Chicago Mercantile Exchange milk futures were mixed at midweek with a mostly inactive cash trade.  Class III milk had a mixed day. June gained a penny to $16.32, July gained 4 to $17.08/cwt and the second half months varied from down a penny to 4 higher. The average finishing the day at $17.42. January- March of 2020 saw small gains of 1-3 cents and average in at $16.63/cwt. Class IV milk saw more movement in fall months. Nearby was unchanged with June at $16.86 and July at $17.06/cwt. Second half average came in at $17.42/cwt.

We saw a CME spot product trade on Wednesday without many fireworks.  Dry whey unchanged at $0.3550. Blocks down $0.0025 at $1.8425. One trade was made at that price. Barrels unchanged at $1.72. Two trades were made at that price. Butter up $0.0025 at $2.42. Eight trades were made ranging from $2.42. to $2.43. Nonfat dry milk up $0.01 at $1.0450. One trade was made at that price.

Grain markets were softer. July Corn fell 4 ¼ to $4.43 ¼, July soybeans lost 9 ¼ to $8.94 ¼ and July soybean meal was down $2.30 to $313.40/ton. The grain and feed trades will keep a close eye on the planted acres report being released Friday by the USDA.

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