On the Chicago Mercantile Exchange milk futures were mostly up in the near term and cash dairy markets were mostly down Wednesday, August 4th. Class III milk price settlements didn’t show much excitement during Wednesday’s trading session as many printed limited gains. August added 7 cents, September 11, and October 6 cents/cwt stronger while November was unchanged, and December fell a penny. 2022 prices were virtually unchanged. A late push higher in prices had August through November 2021 trading 18-51 cents in the green. Thursday’s session will give the market a clearer look if there’s any substance behind it, profit taking, or a head fake. Class IV markets failed to trade with many months closing the session unchanged or lower by a couple cents.
CME spot dairy auction results saw dry whey was down $.0050 at $.4750. There were three trades from $.4725 to $.4750. Blocks were unchanged for a third straight day at $1.6350, and like Monday and Tuesday, no sales were recorded. Barrels went up $.0075 to $1.3150. There were four sales from $1.3075 to $1.3150. Butter closed down $.0150 at $1.6050. Two sales were made at $1.6050 and $1.62. Nonfat dry milk was down $.0150 to $1.2525. Two sales were made at $1.2525 and $1.27.
Grain markets turned in a mixed bag of results Wednesday. Soybeans traded 6 cents higher while meal was up $4/ton. Corn declined 5 cents to $5.4675/bu and the wheat complex dropped 7-16 cents.
