On the Chicago Mercantile Exchange milk futures starting the week out with strong moves following positive cash trade. Class III and IV values tagged along and raced higher along with product. Class III jumped 40-60 cents/cwt in May/June, 20-25 cents higher in July/August, and 8-14 stronger from September to December. The second half of 2021 is offering Class III dairies an average of $18.88/cwt. Early 2022 added a little value as well. Class IV values increased 20-34 cents/cwt from May to December 2021. The second half of 2021 is now offering Class IV dairymen an average of $17.43/cwt.
On the spot market, Blocks up $0.03 at $1.86. Eight trades were made ranging from $1.85 to $1.8675. Barrels up $0.0725 at $1.7650. Ten trades were made from $1.7350 to $1.7750. Butter up $0.0250 at $1.9050. Nonfat dry milk up $0.01 at $1.2150. Eleven trades were made from $1.21 to $1.22. Dry whey up $0.02 $0.65. One sale was made at that price.
Grain commodities took the opposite route as milk to kick off the week. Corn lost 6-8 cents in the old crop while December settled unchanged at $4.965/bu. Soybeans softened across the board falling 21 cents on the front end and 13 cents in the new crop price. The wheat complex ranged from 7.5 to 11 cents lower as well.
