On the Chicago Mercantile Exchange milk futures opened the week lower as cash markets trade on both sides of the coin. Class III Milk showed some weakness nearby, but 2022 gained. Aug fell 4 cents to 16.15, September fell 2 to 17.60 and October fell 17 cents to 17.57/cwt. Jan – July were unchanged to 7 higher. Class IV milk however showed some strength. August was unchanged at 15.75, and September gained 11 to 15.98 with October gained 12 to 16.13/cwt.
The CME spot trade saw dry whey up $0.0025 at $0.52. One sale was made at that price. Blocks down $0.0225 at $1.79. Three trades were made at $1.78 and $1.79. Barrels up $0.03 at $1.48. Four trades were made at $1.408 and $1.49. Butter up $0.02 at $1.69. Two trades were made at $1.69 and $1.6975. Nonfat dry milk down $0.01 at $1.26. Two sales were made at $1.26 and $1.2650.
Grain and feed markets continue to hold their own and keep margins tight. Corn fell 4 ¼ cents to 5.68 ¾, Soybeans gained 3 ¼ cents to 13.68 ¼, with soybean meal gained $2 to $358.70/ton.
