On the Chicago Mercantile Exchange milk futures closed higher at midweek supported by large moves on the cash market. Class III milk saw limit lock moves in September and October, gaining 75 cents. September at 16.63, October at 19.02, and November gained 66 cents to 18.07. 2021 moved 2-30 cents higher. Class iV milk gained 8 cents in 12.98 in September, October gained 7 to 14.04, and November gained 18 to 14.53. 2021 was unchanged to 3 higher in mostly quiet trading.
Small volumes on the CME spot market drive prices higher. Dry whey unchanged at $0.3350. Two sales were made at that price. Blocks up $0.1075 at $1.91. One trade was made at that price. Barrels up $0.1250 at $1.57. One trade was made at that price. Butter up $0.0450 at $1.51. One trade was made at that price. Nonfat dry milk up $0.0050 at $1.0350.
The grain and feed complex was mixed. December corn finishing ¾ cent higher to 3.58 ¾, Chicago wheat fell 5 ¾ cents to 5.58 ¼, Soybeans gained 7 ¼ to 9.62 even, and soybean meal fell 50 cents to $302.30/ton.
