On the Chicago Mercantile Exchange milk futures showed solid strength Thursday as cheese markets showed back up to work. Class III milk markets gained 3 cents in November and 27 cents in December 2019. First quarter 2020 traded 14-29 cents stronger while the second quarter ranged from even to 10 cents higher. Second half 2020 prices declined 1-4 cents per cwt. Class IV markets watched December fall 4 cents, March declined 3 cents while June traded 5 cents higher. The USDA’s cold storage report will be released Friday.
November Class III milk up three cents at $20.37. December up 25 cents at $18.69. January 23 cents higher at $18.19. February up 24 cents at $17.69. March through June contracts unchanged to 14 cents higher. Dry whey up $0.01 at $0.3550. Three trades were made ranging from $0.35 to $0.3550. Blocks up $0.0050 at $1.8425. Four trades were made ranging from $1.8225 to $1.83. Barrels up $0.0350 at $2.1850. Butter down $0.0075 at $2.04. Three trades were made ranging from $2.04 to $2.0525. Nonfat dry milk unchanged at $1.2250
Over in the grains, corn added 1 and three-quarter cents per bu., soybeans lost 4 cents and wheat dropped 4-6 cents per bu. Crude oil continued its higher run this week adding $1.30 on Thursday and closing at $58.39 per barrel.
