On the Chicago Mercantile Exchange, milk futures were higher Wednesday supported by again by strong cash markets. Class III milk futures saw strength today. October milk rallied 29 cents to $19.56/cwt. November and December added 4 cents to $18.62 and $17.52/cwt. First half 2021 average is $16.50/cwt. Class IV futures saw very little movement today.
On the spot trade, dry whey unchanged at $0.3850. Blocks up $0.0075 at $2.5725. Two trades were made at that price. Barrels up $0.07 at $1.80. Butter unchanged at $1.51. Five trades were made at $1.5075 and $1.51. Nonfat dry milk up $0.01 at $1.14. Two sales were made at $1.14 and $1.1425.
The USDA has adjusted August Class and Component prices mostly lower. The Class II milk price was set at $13.16 per hundredweight, down $0.11 from August, the Class III price was $16.43, $3.34 lower, and Class IV was $12.75, up $0.22.
