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Mixed Results on CME to Start the Week


On the Chicago Mercantile Exchange milk futures closed mixed Monday following mixed cash activity. Class III futures were a mixed bag.  August gained 1 penny to $19.77/cwt.  September added 4 cents to $15.73/cwt.  October climbed 20 cents to $17.84/cwt.  First half 2021 average settled at $16.34/cwt.  September class IV milk increased 8 cents to $13.04/cwt.  Quarter 4 2020 is averaging $14.25/cwt.

Blocks and barrels continue to see steady volume in the CME Cash Dairy Product Trade.  Blocks down $0.03 at $1.7975.  Nine trades were made ranging from $1.7975 to $1.8275. Barrels up $0.0075 at $1.4375.  Seven trades were made ranging from $1.4325 to $1.4425. Dry whey down $0.0050 at $0.3350.  One sale was made at that price. Butter up $0.04 at $1.4875.  Four trades were made ranging from $1.4825 to $1.4925. Nonfat dry milk up $0.0050 at $1.0250.  Two sales were made at $1.02 and $1.0250.

The grain market saw fireworks on the overnight Sunday trading session before selling off some of the gains midday.  December corn traded as high as $3.6425 before settling lower to $3.5775/bushel.  November soybeans were up 3 cents to $9.5350/bushel.  September soybean meal finished $3 higher to $304.60/ton.  September Chicago Wheat climbed 5 cents to $5.4425/bushel.  Fats and feeders started the week on a higher note.  October Live Cattle rose 40 cents to $105.30/cwt.  October feeders ended 45 cents higher to $140.62/cwt.  October crude oil fell 15 cents to $42.82/barrel.   


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