On the Chicago Mercantile Exchange milk futures continued their optimism into Monday’s trade as did cash markets. Class III milk surged higher along with Cheese – October gained 26 cents to 21.17, November gained 75 cents to 20.48 and December gained 22 to 18.15. 2021 was more mixed, moving 3 lower to 2 higher. Class IV milk failed to trade outside of November that gained 5 to 13.93. October held at 13.45, and December at 14.13/cwt.
Monday had all our CME spot products jump higher on light volumes. Blocks up $0.0450 at $2.6925. Barrels up $0.0550 at $2.11. One sale was made at $2.0850. Butter up $0.0025 at $1.4150. Six trades were made ranging from $1.4150 to $1.4350. Nonfat dry milk up $0.0050 at $1.13. One trade was made at that price. Dry whey unchanged at $0.3950.
The grain complex followed up a surge higher Friday with a correction back on Monday. Corn fell 6 to 3.89, Chicago wheat actually moved half a penny higher to 5.94 ¼, Soybeans dropped 31 ¾ cents to 10.33 ¾, and soybean meal gave back $6.40 to 356.70/ton.
