On the Chicago Mercantile Exchange milk futures closed higher Monday as a deal in principle with Japan brought optimism back to the market. Class III trade was favorable on Monday, while Class IV was the opposite. August added a penny to $17.60 while September was up 3 cents, and fourth quarter 2019 grew 9-12 cents per cwt. The September through December Class III aveage closed at $17.25 per cwt. 2020 prices ranged from 3 to 8 cents higher January through September in Class III. Class IV markets saw weakness of 6 cents in both September and October while November through January closed 13-19 cents lower. The Class IV September through December price average dropped to $16.39 per cwt.
Dry whey unchanged at $0.3950. Blocks unchanged at $1.88. Four trades were made ranging from $1.8775 to $1.8825. Barrels unchanged at $1.6650. Six trades were made ranging from $1.66 to $1.6650. Butter down $0.03 at $2.1975. Four trades were made ranging from $2.19500 to $2.2075. Nonfat dry milk up $0.0025 at $1.04. Ten trades were made ranging from $1.0375 to $1.0450.
Grain prices had mixed results as corn added a half cent in new crop, soybeans traded 10.5 cents stronger and wheat declined 2-3 cents across all 3 complexes. Livestock had the best results from Monday’s trade as fat cattle traded $1.50 per cwt higher, feeders jumped $2 per cwt and hogs were limit up in the October contract.
