On the Chicago Mercantile Exchange Wednesday milk futures were mostly up and cash dairy prices down except for butter. 21 loads moved and helped butter move 2 ¼ cents higher to $2.14 ¼. Cheddar fell slightly but holds its average at $2.03 per lb. with blocks moving 1 load, a penny and half lower at $2.04 and barrels moving 4 loads half a penny lower at $2.02. Narrowing the block/barrel spread to 2 cents. Dry whey was down $.0025 at $.3050 cents per pound. Twenty-one sales were recorded from $.3050 to $.3125. Nonfat dry milk was unchanged at $1.1675 per pound. Five sales were recorded from $1.16 to $1.1675.
Class III milk continued its move higher. October gained 2 cents to $18.62, November was unchanged at $18.68, and December gained 2 to 18.06/cwt. Jan – March of 2020 saw 3-4 gains to average at $17.00 per cwt. Class IV milk saw October gain 8 cents to $16.45, November was unchanged at $16.82, and December fell 4 cents to $16.76 per cwt.
Grain and feed markets were quiet again and took a small step lower. December corn fell 1 ½ cents to $3.91 ¾, November soybeans fell 6 cents to $9.28, and December soybean meal fell $3.00 to $304.80 per ton.
