On the Chicago Mercantile Exchange milk futures turned back higher at midweek despite the continued decline in cheese markets. Class III moved higher with a short-term rally during trading. November Class finished 15 higher to $20.19, December saw a 40-cent swing during trading to finish 10 higher at $18.79, and 2020 saw Jan – March trade 9-12 higher with an average price of $17.33 per cwt. Class IV was unchanged across the board, November at $16.73, December at $16.93, and January – March averaging at $17.30 per cwt.
The CME spot trade was weaker with the exception of dry whey, Dry whey up $0.0075 at $0.29. Six sales were made at $0.2875 and $0.29. Blocks down $0.03 at $1.91. Four sales were made ranging from $1.8850 to $1.91. Barrels down $0.0350 at $2.38. Two trades were made at $2.27 and $2.28. Butter down $0.0025 at $2.0650. One trade was made at that price. Nonfat dry milk unchanged at $1.2175. Ten trades were made at that price.
Grain markets saw December corn fall 2 ¼ to $3.75 ¼, November soybeans fell 3 ¼ to $9.02 ½, and December soybean meal gained $1.80 to $304.10 per ton.
