On the Chicago Mercantile Exchange milk futures continue to see mixed activity after the Thanksgiving holiday break following the direction of the cash market. Class III milk futures saw much less volatility than what we have been accustomed to lately. November milk gained 14 cents to $23.17. December milk lost 7 to $16.09. January through December 2021 settled 6 cents lower to 14 cents higher. Class IV milk futures also saw very little movement.
In the CME Cash Dairy Product Trade, Blocks down $0.02 at $1.66. Two sales were made at $1.65 and $1.6850. Barrels down $0.0075 at $1.4150. Butter up $0.0025 at $1.3625. Eleven trades were made ranging from $1.33 to $1.3650. Nonfat dry milk up $0.0150 at $1.11. Three trades were made ranging from $1.1050 to $1.11. Dry whey unchanged at $0.43.
The grain complex saw both December 20 corn and January 21 soybeans put in contract highs. December corn climbed 5.50 cents to $4.2575 cents. January soybeans increased 6 to $11.7575/bushel. December soybean meal fell 90 cents to $394.90/ton. December Chicago Wheat added 2.50 cents to $5.9775/bushel.
