On the Chicago Mercantile Exchange milk futures rebounded midweek while cash trade was mostly lower. Class III milk moved higher despite little information feeding it in the spot trade. February fell 1 to 17.03 but most of the rest of the futures trade moved higher. March gained 8 to 17.29, April gained 8 to 17.42. The first half of 2020 sits at 17.31/cwt. Class IV milk didn’t follow suit. February fell 2 to 16.42, March fell 1 to 16.40, and April fell 9 to 16..66/cwt.
The balance of our products were unchanged. Dry whey unchanged at $0.3950. Blocks down $0.0150 at $1.8650. Three sales were made at $1.8875. Barrels unchanged at $1.56. Five trades were made ranging from $1.56 to $1.5850. Butter down $0.0150 at $1.80. Eight trades were made ranging from $1.80 to $1.82. Nonfat Dry milk unchanged at $1.2250. Five trades were made ranging from $1.2250 to $12325.
Grain and Feed markets saw Chicago wheat gain 5 ½ to 5.47 ½, Corn gained 3 ¼ to 3.83 even, Soybeans gained 7 ¾ cents to 8.92 ½, and Soybean meal gained $0.90 to 291.70/ton.
