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Dairy Markets Rally in Chicago Tuesday


September class III milk futures closed steady at $18.28 on the Chicago Mercantile Exchange Tuesday.   October gained 15 cents to $18.28, and November gained 16 cents to $18.24. 2020 markets also moved higher, gaining 4-9 cents in January- March and showing a first quarter average at $16.68 per cwt.  Class IV milk was up 7 cents in September to $16.45, October was unchanged at $16.45, and November gained 6 cents to $16.76 per cwt. 

Dry whey down $0.0025 at $0.3475.  Fourteen trades were made, ranging from $0.3450 to $0.35. Blocks up $0.0325 at $1.99.  Five trade made, ranging from $1.97 to $1.9925. Barrels up $0.0425 at $1.7325.  Four trades made, ranging from $1.73 to $1.7325. Butter unchanged at $2.1275.  Nonfat dry milk up $0.02 at $1.13.  Four trades made ranging $1.1250 to $1.13.

Grain and feed markets were stronger Tuesday. December corn was up 4 ½ cents to $3.92 ½, November soybeans gained 13 ½ to $9.19 ½, and soybean meal gained $8.20 to push back above $300 to $304.10 per ton.


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