On the Chicago Mercantile Exchange milk futures mixed Monday as cash trade fights to find a new normal range. Class III milk was both green and red as we moved through the day. Sept was unchanged at $18.26, Oct fell 33 cents to $18.33, and November fell 13 to $18.26 per cwt. 2020 markets saw January – March mixed at 5 lower to 3 higher with an average at $16.73 per cwt. Class IV milk was unchanged in fall of 2019 markets with Sept at $16.33 per cwt.
The USDA Cold Storage report on Monday showed us a small increase in all cheeses from July to August of 700,000 lbs. to 1.36 Billion lbs. American style cheese however fell. Inventories fell 3.6 million lbs from July to 768 million lbs. Dry whey down $0.03 at $0.3675. Two trades were made at $0.37. Blocks unchanged at $2.05. Four trades were made at $2.05 and $2.06. Barrels down $0.0375 at $1.6175. Ten trades were ranging from $1.6175 to 1.67. Butter up $0.04 at $2.1550. Two trades were made at $2.1550 and $2.1575. Nonfat dry milk up $0.0075 at $1.09. One trade was made at that price.
Grain markets saw corn and soy higher. December corn gained 2 ½ to $3.73 ¼, November soybeans gained 9 3/4 to $8.92 ¼ and soybean meal gained $3.40 to $294.50 per ton.