Class III milk futures were mixed, mostly steady on the Chicago Mercantile Exchange. July fell a penny to $17.40, August fell 3 cents to $17.66, but September – November were unchanged and December- February of 2020 actually saw a move 1-5 cents higher. Overall the mixed day gave us a second half average for 2019 at $17.66/cwt and first quarter of 2020 is averaging $16.86. Class IV milk was unchanged in July to 16.90, fell 6 cents in August to $16.84 and has a second half average at $17.07/cwt.
Cheese had large gains on Tuesday as cash cheese blocks were $.0375 higher at $1.83. Seven loads were sold, including six at the closing prices. The last unfilled bid was for one load at $1.8225 and the last uncovered offer was on two loads at $1.83. Barrels were a $.005 higher at $1.7175. Five loads were sold at that price. The last unfilled bid was for one load at $1.7125 and the last uncovered offer was on one load at $1.76. Nonfat dry milk was up $.0025 at $1.01. Three loads were sold at $1.01. The last unfilled bid was for one load at $1.01 and the last uncovered offer was on one load at $1.0125. Butter was down $.015 at $2.36 with one load sold at that price. The last unfilled bid was for one load at $2.30 and the last uncovered offer was on one load at $2.38. Dry whey was $.0025 higher at $.3450 with one load sold. The last unfilled bid was for one load at $.3425.
A mixed day in the grain and feed markets. December corn gained 4 ¾ to 4.31 ½ cents, November Soybeans fell 2 cents to $9.03 per bu., and August soybean meal fell $2 to $306.40/ton.
