On the Chicago Mercantile Exchange, milk futures slid again Thursday promoted by continually declining cash trade. Class III prices fell as much as $1 per cwt during Thursday’s session but closed 27 lower in August, 62 in September, while 4th quarter prices were mainly unchanged. Class IV markets struggled as well, falling double digits.
Cheese and milk prices experienced another rough session on Thursday after a limit move lower on Wednesday. Blocks down $0.0250 at $2.2950. Four sales were made at $2.28 and $2.2850. Barrels down $0.08 at $2.36. Four trades were made at $2.3575 and $2.36. Butter up $0.0525 at $1.6075. Three trades were made at $1.6050 and $1.6075. Nonfat dry milk down $0.0025 at $0.99. One sale was made at $0.9950. Dry whey down $0.0025 at $0.34.
Improving crop condition reports put pressure on corn and soybeans Monday through Wednesday but rose a half cent in corn today and three cents in soybeans. Wheat weakened 3 in Chicago, 5 in Kansas City, but gained 2 cents in Minneapolis.
