On the Chicago Mercantile Exchange product and milk pricing across the board felt pressure on Tuesday. Class III milk prices suffered 18-22 cent losses in the 2nd quarter to end up at $15.33 cents per cwt. Second half 2020 prices dropped 2-13 cents as well. Class IV markets took it on the chin even harder as months fell 30-55 cents per cwt April through September.
Dry whey steady at $0.33. Blocks down $0.0250 at $1.79. Barrels down $0.01 at $1.44. Butter down $0.0575 at $1.6525. Nonfat dry milk down $0.0025 at $0.9975. Two trades were made, with a range of $0.9950 to $1.00.
Over in the grain space, corn added 1 ½ cents, beans dropped 5, and the wheat complex was up 18 cents in Chicago, Kansas City 10 higher, and Minneapolis was 2 stronger. The cattle space lost a buck in the deferred months on fats, feeders and hogs.