On the Chicago Mercantile Exchange class III milk futures exploded higher for the first time in a while with August up just 10 cents being 85% priced. September rallied 71 cents to $17.29 per cwt. Class IV saw November milk gaining 13 cents.
Blocks and barrels once again saw upward moves after last week’s stagnant trade in the block cheese market. Blocks up $0.0775 at $1.7375. Barrels up $0.0675 at $1.4275. Five trades were made, ranging from $1.42 to $1.43. Butter down $0.01 at $1.67. Two trades made, ranging $1.66 to $1.67. Nonfat dry milk down $0.0025 at $1.2550. Dry whey unchanged at $0.54.
The grain markets were mixed as the relatively quiet trade continues ahead of the August WASDE report at 11 a.m. on Thursday. December corn settled just 1/2 of a penny lower, seemingly unwilling to break out in either direction until the USDA releases their yield numbers on Thursday. November soybeans added 7 cents to $13.3675 per bu. August soybean meal finished 70 cents higher to $360.30 per ton. Chicago wheat jumped 15.75 cents to $7.27 per bu.
