Class III milk futures were stronger on the Chicago Mercantile Exchange Monday. June Class III milk was up $.01 at $20.94. July was up $.56 at $22.20. August was up $.13 at $19.20. September was up $.02 at $17.50. The milk futures from October through next May ranged from three to twenty-four cents higher. Quarter 3 is averaging $19.63 while quarter 4 settled at $16.29 per cwt. Class IV milk futures continued its low liquidity today. Second half 2020 average is $15.13 per cwt.
In the CME cash dairy product trade, Dry whey was up $.0050 at $.3175 cents per pound. Six sales were recorded from $.31 to $.3175. Forty-pound blocks were up $.0450 at $2.62 per pound. There were nine sales recorded from $2.5725 to $2.62. Barrels were unchanged at $2.40 per pound. Two sales were recorded at that price. Grade AA Butter was unchanged at $1.7650 per pound. No sales were recorded. Nonfat dry milk was down $.0075 at $1.0125 per pound. One sale was recorded at that price.
The grain complex ran higher ahead of tomorrow’s USDA Acreage and Quarterly Grain Stocks report. December corn added 9.50 cents to $3.3475 per bushel. November soybeans inched a quarter-cent higher to $8.6125per bushel. July soybean meal dropped $1.60 to $280.50 per ton. September Chicago wheat improved 10.75 cents to $4.8650 per bushel.