Milk Markets Can't Decide Which Direction They Want to Go

Class III markets continue to be confused on which direction they want to go.
Class III markets continue to be confused on which direction they want to go.
(Stock Photo)

Dairy Markets are teaming with volatility. Class III markets continue to be confused on which direction they want to go. Block Cheese went up $0.0025 to $1.8650 with no lots traded. Barrels came down 2 cents to $1.7600, causing August Class III to only gain 2 cents to $17.04. Butter increased a couple more cents to $2.6925, running with the cold storage news of a deficit of 7 million lbs. compared to the average of 5 years. Nonfat bounced off the ceiling, losing a quarter cent to $1.1475. Class IV has sustained its rally, climbing to $19.02 in August. 

The bears took over the grain markets with corn, beans, and wheat sliding down to $5.4225, $13.98, and $7.1275. Feeder Cattle and Lean Hogs liked the action in grain markets, with spot prices rising to $242.29 and $105.79, respectively. Crude Oil went and tested $80/barrel but was quickly rejected as it settled back below to $79.82. September Fuel has followed crude, finishing above $2.90/gallon in September.

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