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Milk Markets Continue Last Weeks Steady Climb in Chicago Monday


On the Chicago Mercantile Exchange Monday milk futures were mostly up and cash dairy prices were mixed.  Class III milk was flat in nearby months but continued a steady climb for late 2019. June and July were unchanged at $16.30 and $17.08/cwt, but August gained 9 cents to $17.44 as did September to finish at $17.64/cwt. October- December gained 1-4 cents and they average $17.41/cwt. January – March of 2020 gained 3-4 cents to $16.63/cwt. Class IV milk was also unchanged for June and July, finished at $16.86 in June and $17.10 for July. Second half average for Class IV milk is at $17.36/cwt.

The CME spot product trade showed some gains on limited volumes.  Dry whey was up $.01 at $.3525 cents per pound. Two sales were recorded at $.3425 and $.3575. Forty-pound blocks were up $.0150 at $1.84 per pound. Ten sales were recorded from $1.8250 to $1.8425. Barrels were down $.0175 to $1.72 per pound. Two sales were recorded at $1.71 and $1.7375. Grade AA Butter was up $.0125 at $2.4025 per pound. Three sales were recorded at $2.38 and $2.4025. Nonfat dry milk was down $.0050 at $1.04 per pound. One sale was recorded at that price.

Grain and feed prices rebounded Monday after some softening at the end of last week. July corn gained 4 ½ cents to $4.46 ¾, July Soybeans gained 6 ¼ cents to $9.09 even, and July soybean meal gained $2 to $317.60/ton.


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