On the Chicago Mercantile Exchange, milk futures were mixed Thursday while cash trade was mostly lower. Class III milk futures printed both red and green today. September declined 16 cents to $16.46/cwt. October pushed 25 cents higher to $18.73/cwt. November rose 2 cents to $17.27/cwt. December milk lost 3 to $16.45/cwt. First half 2021 resides at $16.29/cwt. Class IV milk was also mixed. October gained 3 cents to $13.67. November milk decreased 18 to $14.07. December milk dropped 17 to $14.37/cwt.
Blocks and barrels both turned lower today with the spread widening to 52 cents in the CME Cash Dairy Product Trade. Blocks down $0.0075 at $2.15. Two trades were made $2.15 to $2.1575. Barrels down $0.0450 at $1.63. Two trades were made at $1.63 to $1.6775. Dry whey up $0.0075 at $0.3450. One trade was made at that price. Butter down $0.0175 at $1.4825. Sixteen trades were made ranging from $1.48 to $1.50. Nonfat dry milk down $0.0025 at $1.04. Two trades were made at $1.04 and $1.0425.
The grain complex was mixed ahead of tomorrow’s USDA supply and demand report. December corn surged 4.75 cents to $3.65/bushel. November soybeans bounced off $9.80, finishing at $9.7750/bushel. October soybean meal lost 20 cents to $312.70/ton. September Chicago Wheat added 6 cents to $5.40/bushel.
