On the Chicago Mercantile Exchange milk futures were again higher Thursday follow a mostly higher and active cash trade. Class III milk had nice gains nearby. August was unchanged at $17.60 as it nears the end of the contract month. September gained 9 cents to $17.56, and October gained 11 cents to $17.64. The second half average is now at $17.45 per cwt. 2020 markets though were mixed from a penny down to a penny higher. Jan – March average is at $16.38 per cwt. Class IV milk saw gains as well August gained 4 cents to $16.70, September gained 6 cents to $16.26, and October gained 5 to $16.48.
Big volumes led to big moves in the CME spot product trade Wednesday. Blocks up $0.04 at $1.92. Four trades were made ranging from $1.90 to $1.92. Barrels up $0.02 at $1.70. Twelve trades were made ranging from $1.68 to $1.7025. Butter down $0.0250 at $2.1850. Seventeen trades were made ranging from $2.1850 to $2.21 Nonfat dry milk up $0.0050 at $1.0425. Six trades were made ranging from $1.04 to $1.0425. Dry whey unchanged at $0.39.
Feed and grain prices saw some slight gains on quiet trading. December corn gained a quarter of a cent to $3.71 ¼, November soybeans gained 2 ¾ to $8.68 ½, and September soybean meal lost $2 to close at $292 per ton.