At the Chicago Mercantile Exchange Wednesday class III milk futures were lower on profit-taking and demand uncertainties. August gained 4 cents to $17.54 per cwt, September fell 1 to $17.79 and the August – December average is at $17.53 per cwt. 2020 markets were higher. January – March gained 2 cents with the average coming in at $16.62 per cwt. Class IV gave back some of the gains it saw Wednesday. August was unchanged at $16.60, September fell 4 cents to $16.79 and our second-half average was at $16.89 per cwt.
Cash cheese blocks were steady at $1.8675 and barrels were unchanged at $1.71. The last uncovered offer on barrels was for one load at $1.73. Nonfat dry milk was $.0025 higher at $1.025. Three loads were sold, two at $1.0225 and one at $1.0275. The last unfilled bid was on one load at $1.0225. The last uncovered offer was for one load at $1.025 Butter was $.02 lower at $2.33. One load was sold at $2.325. The last unfilled bid was on one load at $2.33. The last uncovered offer was for one load at $2.35. Dry whey was up $.015 at $.355, with one load sold at that price. The last unfilled bid was on two loads at $.325. The last uncovered offer was for one load at $.36.
Grains and feed showed some strength on Thursday ahead of Monday’s USDA supply and demand report. December corn gained 4 ¼ cents to $4.1825 per bu. November soybeans were up 16 ¼ cents to $8.83 per bu., though soybean meal lonely gained $1.80 and August closed trading at $294.80 per ton.
