Dairy markets causing whiplash on Monday as we Class III move from limit down in May during early trading to rebound and see August trade limit up in the afternoon on the Chicago Mercantile Exchange. Class III milk finished a volatile day with a tale of two halves. April – June was in the red with April falling 19 to 13.88, May down 35 to 11.83 and June fell 8 to 13.05. July however gained 32 cents to 14.40 and the balance of 2020 saw gains of 24-41 cents in a late day rally. Class IV milk saw similar swings, April was unchanged at 11.36, May fell 13 to 11.02, and June was unchanged at 11.54. Second half months mixed from 13 lower to 19 higher.
Dry whey steady at $0.33. Blocks down $0.0225 at $1.1275. Barrels down $0.0475 at $1.09. Four trades were made, with a range of $1.09 to $1.10. Butter down $0.0250 at $1.2550. Nonfat dry milk unchanged at $0.8625.
