On the Chicago Mercantile Exchange, milk futures were mixed Tuesday while traders test the limits of prices and cash cheese prices remain strong. Class III milk markets fell 19 cents to close around $22 perc wt. August and September fell 50 plus cents while 4th quarter prices weakened 12-30. 2021 prices were mainly unchanged on the day. Class IV markets dropped 5-10 cents in 2020 as well.
Dry whey down $0.0075 at $0.3075. Five trades were made at $0.3075 and $0.31. Blocks up $0.1075 at $2.81. One trade was made at that price. Barrels up $0.0475 at $2.37. Three trades were made from $2.36 to $2.37. Butter down $0.02 at $1.8125. One trade was made at that price. Nonfat dry milk down $0.0025 at $1.03. Two trades were made at that price.
Grain markets struggled on Tuesday following uncertainty from China and U.S. trade talks held last week in Hawaii. Conflicting media reports out of the White House broke corn price 5 cents and soybeans were also down 4 cents. Cattle prices, on the other hand, rose $1-2 per cwt and feeders were also up to $1.50.
