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Mixed Markets Midweek in Chicago

Thursday, August 26th, 2021

On the Chicago Mercantile Exchange milk futures dipped at midweek as grain markets found strength and cash trade was mixed. Class III Milk fell 1 cent in Aug to 16.03, September fell 2 to 17.36 and October fell 9 cents to 17.20/cwt. The balance of months into 2022 were unchanged to 8 cents lower. Class IV slid higher. August gained 3 cents to 15.78, September gained 4 to 15.95, and October gained 7 cents to 16.07/cwt.

The summer slump continued on a slow news day and a quiet day in the CME products trade.  Dry whey down $0.0050 at $0.5150. Blocks up $0.0050 at $1.76. One sale was made at that price. Barrels up $0.0025 at $1.4875. One sale was made at that price. Butter down $0.0125 at $1.7025. Five trades were made from $1.6975 to $1.71. Nonfat dry milk unchanged at $1.27.

Margins tightened as grains had another day of small gains. Corn gained 6 ½ cents to 5.51 ¾, Soybeans finished 1 cent higher for November at 13.32 ¾. With Soybean meal falling $2.60 to $352.30/ton.
(T1, D1)

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