On the Chicago Mercantile Exchange Monday milk futures were mostly up and cash dairy prices were mixed. Class III milk was flat in nearby months but continued a steady climb for late 2019. June and July were unchanged at $16.30 and $17.08/cwt, but August gained 9 cents to $17.44 as did September to finish at $17.64/cwt. October- December gained 1-4 cents and they average $17.41/cwt. January – March of 2020 gained 3-4 cents to $16.63/cwt. Class IV milk was also unchanged for June and July, finished at $16.86 in June and $17.10 for July. Second half average for Class IV milk is at $17.36/cwt.
The CME spot product trade showed some gains on limited volumes. Dry whey was up $.01 at $.3525 cents per pound. Two sales were recorded at $.3425 and $.3575. Forty-pound blocks were up $.0150 at $1.84 per pound. Ten sales were recorded from $1.8250 to $1.8425. Barrels were down $.0175 to $1.72 per pound. Two sales were recorded at $1.71 and $1.7375. Grade AA Butter was up $.0125 at $2.4025 per pound. Three sales were recorded at $2.38 and $2.4025. Nonfat dry milk was down $.0050 at $1.04 per pound. One sale was recorded at that price.
Grain and feed prices rebounded Monday after some softening at the end of last week. July corn gained 4 ½ cents to $4.46 ¾, July Soybeans gained 6 ¼ cents to $9.09 even, and July soybean meal gained $2 to $317.60/ton.
