On the Chicago Mercantile Exchange milk futures closed mixed Wednesday as the news of a trade deal with Japan slowed the slide-off happening in the cash markets. Class III milk fell 1 cent in October to $18.09, November gained 6 cents to $18.08 and December gained 5 cents to $17.48. Fourth quarter average is at $17.88 per cwt. 2020 markets saw January – March vary from 5 lower to 5 higher and gives us an average at $16.60 per cwt. Class IV milk didn’t see much action. Only change coming in October, falling 3 cents to $16.40 and December gained 1 at $16.70.
The CME spot markets saw similar results. Dry whey down $0.0175 at $0.3375. Ten trades were made ranging from $0.3375 to $0.3550. Blocks down $0.0550 at $1.9375. Five trades were made ranging from $1.93 to $1.95. Barrels unchanged at $1.6125. Butter unchanged at $2.1425. Nonfat dry milk up $0.0050 at $1.1075. One trade was made at that price.
Grain and Feed markets treaded water. December corn fell half a cent to $3.74 ¼, but 2020 months were up slightly. November soybeans fell 5 cents to $8.89 ¼ with soybean meal falling $2.20 to $293.20 per ton.
