At the Chicago Mercantile Exchange Class III milk futures closed mixed Wednesday. Class III milk futures were a penny lower in August at $15.00 even. September moved 4 cents higher while the 4thquarter weakened 3-9 cents. The price for 2019 had February down a penny and the last half up 2-7 cents per cwt. The Class IV market was 2 cents lower in August at $14.68 per cwt. and down 14-16 cent in September through December. January fell 3 cents and August 2019 through December 2019 declined 4-15 cents per cwt.
Butter came in at 318 million pounds. Beef supplies were 485 million, up 12% year over year at 8% ahead of the prior month. CME spot product markets on Wednesday had blocks up 2 cents following 3 trades to $1.63 and ¾ cents per lb. Barrels softened a half cent to $1.56 and ½ cents after 1 trade. Butter markets added 1 and ¼ cents and settled at $2.25 per lb.
