On the Chicago Mercantile Exchange milk futures continued to tumble midweek as cash trade saw some rather steep declines in prices. Class III milk fell apart. July held at $24.42 as we enter the final days of the month, but Aug moved limit lower to 21.16, September also moved 75 lower to 19.34, and Oct – December fell 19-75 cents lower to average at $16.89/cwt. Class IV also moved lower. July holding at 13.65, Aug fell 24 to 13.39, and Sept moved 26 lower to 13.77/cwt.
On the spot trade dry whey unchanged at $0.3425. Blocks down $0.12 at $2.32. One sale was made at that price. Barrels down $0.01 at $2.44. Butter down 0.1550 at $1.5550. Twenty trades were made ranging from $1.5550 to $1.66. Nonfat dry milk up $0.0025 at $0.9925. One sale was made at that price.
Grain and feed continue to slide, corn fell 4 ½ cents to 3.15 ½, November soybeans fell 2 ¼ cents to 8.85 ¼, and soybean meal lost $2 to $286.90/ton.
