On the Chicago Mercantile Exchange ,ilk futures continued to slide and cash dairy prices were mixed Tuesday. Class III prices tumbled lower especially in November and December. November decreased 59 cents to $18.78/cwt. December milk lost 57 cents to $18.57. 2022 milk futures finished 14 cents lower to slightly positive. Class IV prices were mixed despite spot nonfat milk and butter prices moving higher.
In the spot dairy product trade dry whey was down $.0050 at $0.62. No sales were recorded. Blocks were down $.0475 at $1.7725. There were three offers and no sales. Barrels went down $.03 to $1.83. There were two offers, but only one trade at $1.84. Butter closed up $.0650 at $1.93. There were eight butter sales ranging from $1.9050 to $1.93. Nonfat dry milk was up $.0075 to $1.5450. Six trades were made ranging from $1.5350 to $1.5450.
Grain prices were mixed on the day. December corn added 5.50 cents to $5.4350/bushel. November soybeans inched up ¾ of a penny to $12.38. December soybean meal declined 30 cents to $326.90/ton. December Minneapolis Wheat set a new contract high at $10.47/bushel before settling back at $10.2150. Oats traded over $7.00/bushel for the first time ever.
