Class III milk futures showed little mercy on the Chicago Mercantile Exchange with May down 16 cents at $11.02. June down 22 at $12.11. July through September contracts three to five cents higher. Class IV milk futures were mixed once again. April milk softened 15 cents to $11.42/cwt. May milk didn’t trade and resides at $10.69/cwt. June milk lost 14 cents to $11.09. Second half 2020 sits at $12.67.
In the CME cash dairy product trade Dry whey up $0.02 at $0.3750. Five trades were made at $0.3750. Blocks up $0.0075 at $1.0075. Barrels down $0.0375 at $1.00. Twelve trades made, ranging from $1.00 to $1.0350. Butter $0.02 higher at $1.16. Four trades were made, with a range of $1.15 to $1.16. Nonfat dry milk up $0.01 at $0.86. Seven trades made, ranging from $0.8475 to $0.86.
Grain prices were negative on the day. December corn inched 1.75 cents lower to $3.41/bushel. November soybeans tumbled 5.25 cents lower to $8.5425. September Chicago wheat suffered a 10.25 cent loss to $5.3575/bushel. May soybean meal lost 40 cents to $291.80/ton.
