On the Chicago Mercantile Exchange Milk futures were higher again Thursday with continued strength from the cash markets. Class III milk futures reacted favorably to the strength in barrel cheese today. October milk settled just under $20.00 at $19.98/cwt. November finished 48 cents higher to $19.11/cwt. December rallied 30 cents to $17.83. First half 2021 gained 2-14 cents for an average of $16.55/cwt. Class IV milk futures saw little movement today.
On the spot trade , dry whey up $0.0050 at $0.39. Blocks up $0.0050 at $2.5775. One sale was made at that price. Barrels up $0.10 at $1.90. Five sales were made ranging from $1.8625 to $1.90. Butter unchanged at $1.51. Nonfat dry milk down $0.0050 at $1.1350. Twelve sales were made ranging from $1.1225 to $1.14.
The grain complex was far less exciting today. December corn extended yesterday’s gains, climbing 3.75 cents to $3.8275/bushel. November soybeans settled unchanged at $10.2350/bushel. October soybean meal rallied $5.30 to $345.00/ton. December Chicago Wheat fell 7.75 cents to $5.7025/bushel. Fats and feeders finished slightly lower. October Live Cattle lost 2 cents to $108.52/cwt. October feeder cattle decreased 42 cents to $140.92/cwt. November Crude Oil tumbled $1.51 to $38.71/barrel.
