On the Chicago Mercantile Exchange milk futures closed lower at midweek with little direction from cash markets. October milk was the only month in class III to print green, adding 3 cents to $20.57/cwt. November milk suffered a 19 cent loss to $19.40/cwt. December milk fell 19 cents as well to $17.72/cwt. 2021 milk fell 3-10 cents. First half 2021 average sits at $16.63/cwt. Class IV milk futures dropped 5-17 cents in the first half of 2021.
Butter was the only product to see its price move in the CME Cash Dairy Product Trade. Butter down $0.0225 at $1.45. Three trades were made at $1.45 and $1.4525. Dry whey unchanged at $0.3950. Blocks unchanged at $2.65. Three sales were made at that price. Barrels unchanged at $2.00. Nonfat dry milk unchanged at $1.13. Five sales were made at $1.1275 and $1.13.
The grain complex was able to continue its trend higher on 2020 crop. December corn increased 3.75 cents to $3.8875/bushel. November soybeans set a new contact high, settling at $10.51/bushel. October soymeal meal increased $6.30 to $361/ton. December Chicago Wheat surged 14.75 cents to $6.0750/bushel. Fats ands feeders also posted gains today. October live cattle climbed 97 cents to $110.17/cwt. October feeder cattle gained 37 cents to $138.50/lb. November crude oil declined 67 cents to $40.00/barrel
