At the Chicago Mercantile Exchange Milk futures and cash dairy prices were mixed Wednesday. November milk was the biggest mover in class III milk futures, adding 51 cents to $22.88/cwt as we are midway though the second week of November pricing. December lost 4 cents to $20.19/cwt. First half 2021 also saw weakness, dropping 20-24 cents across the curve. Class IV also traded 9-16 cents lower in the remainder of 2020 and out into 2021.
Butter continues its break lower in the CME Cash Dairy Trade. Barrels were up $.0175 at $2.47 per pound. Three sales were recorded from $2.4575 to $2.47. Grade AA Butter was down $.0025 at $1.3825 per pound. Three sales were recorded from $1.3825 to $1.40. Dry whey was unchanged at $.3950 cents per pound. No sales were recorded. Forty-pound blocks were unchanged at $2.7725 per pound. No sales were recorded. Nonfat dry milk was up $.0025 at $1.08 per pound. Three sales were recorded from $1.0750 to $1.08.
The grain complex sold off hard with soybeans leading the charge. November soybeans fell 25 cents to $10.5725/bushel. December corn tumbled 14.50 cents to $4.0150/bushel. December soybean meal retreated $7.30 to $376.70/ton. December Chicago Wheat settled 7 cents lower to $6.0875/bushel.
