Commodity markets across the board were stronger at the Chicago Mercantile Exchange. Yesterday afternoon, President Trump announced the USDA will spend $1 billion in the Farmers to Families Food Box program under the Coronavirus Food Assistance Program.
Class III futures saw significant strength today. August lost 1 penny to $19.60/cwt. September to December milk settled limit up. Quarter 4 average is $17.66/cwt. First half 2021 gained 8-40 cents for an average price of $16.45/cwt.
In the CME Cash Dairy Product trade, Dry whey down $0.0050 at $0.3250. One sale was made at that price. Blocks up $0.10 at $1.83. Barrels up $0.0450 at $1.4050. Five trades were made ranging from $1.4050 to $1.4150. Butter up $0.0050 at $1.52. Four trades were made ranging from $1.52 to $1.54. Nonfat dry milk up $0.0175 at $1.0125. Two sales were made at $1.0125 and $1.0150.
