On the Chicago Mercantile Exchange milk futures started the first trading day of the New Year lower as did most cash markets. January Class III milk fell 20 cents to $17.06, February fell 30 to $17.08, and March fell 18 to $17.25. June forward was mostly unchanged. We have a first half average at $17.24 per cwt. Class IV milk however saw nice gains to start 2020. January gained 13 to $16.92, February gained 16 to $17.09, and March gained 15 cents to $17.34 per cwt. May – August saw some slight moves lower, however. First half for class IV milk is averaging at $17.40 per cwt.
Dry whey unchanged at $0.3125. Ten sales were made at that price. Blocks down $0.0075 at $1.9025. One trade was made at $1.9050. Barrels down $0.0675 at $1.6425. Two trades were made at $1.6425 and $1.6450. Butter unchanged at $1.95. Nonfat dry milk down $0.0025 at $1.2275. One trade was made at that price.
Feed and Grain markets saw nice gains to start the new year. March corn gained 3 ¾ to $3.91 ½, January soybeans gained 1 ¼ to $9.44 ¼, and January soybean meal gained $0.70 to once again move above the $300 mark to $300.60 per ton.
