On the Chicago Mercantile Exchange, Milk futures continued their sell-off Monday as did cash markets with barrel cheese again posting large losses. December Class III continued to consolidate with 2021 values on the sell off of barrels. November fell 12 cents to 23.01, but December fell just short of a dollar – at 97 cents lower to $16.74, January fell 20 to $16.76. The balance of 2021 is hanging around the 16.50 neighborhood. Class IV milk fell slightly. November down 9 to 13.34, December down 5 to 13.45, and Jan fell 5 to 13.79/cwt.
The CME spot trade had Barrels down $0.21 at $1.40. Six trades were made at that price. Butter down $0.02 at $1.38. Three trades were made ranging from $1.38 to $1.3850.Nonfat dry milk down $0.0050 at $1.0825. Twelve trades were made at $1.0825 and $1.0850. Dry whey unchanged at $0.43. Blocks unchanged at $1.9175.
The grain complex saw small gains. Corn up 5 ¾ to 4.16 ¼, Soybeans gained 5 ½ to 11.53 ½, and Soybean meal gained $1.20 to $389.30/ton.
