On the Chicago Mercantile Exchange milk futures closed lower again Wednesday, while cash markets were mixed. Class III milk fell sharply Wednesday. August fell 22 to $17.25 per cwt, September fell 12 to $17.68 and the August – December average at $17.42. 2020 also saw a dip, losing 3-8 cents in first quarter and January – March 2020 averages at $16.64 per cwt. Class IV milk followed the gain in butter, August gained 5 cents to $16.76, September gained 4 to $17.04 and the August – December average is at $17.09 per cwt.
Dry whey unchanged at $0.34. Blocks unchanged at $1.82. Barrels down $0.0250 at $1.6975. Six trades were made ranging from $1.6975 to $1.7150. Butter up $0.0175 at $2.3450. One trade was made at $2.35. Nonfat dry milk down $0.0025 at $1.0350.
Feed prices improved as sell signals fed a bearish market. December corn fell 11 cents to $4.10, November soybeans fell 15 ¼ to $8.81 ½, and August soybean meal fell back below $300 per ton, losing $2.10 to $298.20 per ton.