On the Chicago Mercantile Exchange Milk futures continued to press higher Monday as the block and barrel cheddar spread again widened to a new record and block cheddar broke another daily record. Milk prices strengthened ad much as 70 cents throughout the day in Class III but ended up around 20-30 in 2020. 2021 prices gained 10 cents as well. Class IV prices were mainly unchanged. July Class III milk 14 cents higher at $24.34. August up 36 cents at $23.40. September 43 cents higher at $20.71. October 25 cents higher at $18.76. November through January contracts eight to 21 cents higher.
Dry whey jumped 3 cents to 31 ¾ which still remains among the lower end of their range. Blocks up $0.0850 at $3.00, a new record. Seven trades were made ranging from $2.9175 to $3.00. Barrels up $0.0625 at $2.4025. Butter up $0.0325 at $1.7275. Eleven trades were made ranging from $1.72 to $1.7275. Nonfat dry milk unchanged at $1.0150.
Grain markets struggled to begin the week, losing 8 cents in corn, 15 in soybeans and 3-11 in the wheat complex.
