Fall Milk Price Futures Slip

As we move into the end of summer and look ahead to cooler temperatures of fall, most of our commodities have settled in to a tight range.
As we move into the end of summer and look ahead to cooler temperatures of fall, most of our commodities have settled in to a tight range.
(Stock Photo)

Commodity markets lulled us to sleep on Wednesday. As we move into the end of summer and look ahead to cooler temperatures of fall, most of our commodities have settled in to a tight range. The CME spot market was unchanged for our class 3 products and small gains on Class 4 products. Butter gained 1 ½ cents to $2.66 ½ with Grade A Non Fat Dry Milk gained half a penny to $1.13/lb. Cheddar was unchanged with Blocks at $1.96 ½ and Barrels at $1..80/lb. Dry whey finished out the trade unchanged at $0.27/lb.

Class III milk was slightly lower in the front months on low volume of trading with August at $17.35, down 1 cent. September down 14 cents to $17.83/cwt with October slipping 10 cents to $18.16, 2024 struggled to get a contract to trade and was unchanged across most of year. 

Class IV milk countered that with slight gains nearby. August unchanged at $18.90, September up a penny at $19.01/cwt, and October gained 7 cents to $19.04/cwt. 2024 was mostly unchanged as well with limited trades.

Grain markets also were a snoozer with small ranges and pushes back to recent lower prices. December corn slid 4 ½ cents to $4.94 1/4/bu, Soybeans showed small gains of 2 ½ cents to $13.08 ½ and soybean meal slid $3.20 lower for December at $390.80/ton. Crude oil bounced back, gaining $1.30/barrel to $84.22.

With Ever.Ag this is Jenny Wackershauser on know your markets. 

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Milk Prices
 

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