Post 4th of July Markets Fizzle Out

Class III milk was softer nearby but was quieter this fall.
Class III milk was softer nearby but was quieter this fall.
(Stock Photo)

July 4th fireworks have settled down and so have the markets. Wednesday markets started with a boom in grains but fizzled out as we moved through the trading day. All eyes continue to follow feed markets as milk struggles to move higher. July corn finished the day down 9 cents to $5.48 ¼ with December squeaking out a penny and a quarter to $4.93 1/2/bu.  Soybeans jumped up 25 cents after the open to finish the day with November up just 1 ¼ cent to  $13.55 and Soybean Meal actually fell $2.80 in December to $393.20/ton.

Class III milk was softer nearby but was quieter this fall. July fell 14 cents to $14.01, August fell 34 to $14.46, but Sept only slid 8 cents to $15.80/cwt. Class IV milk was unchanged nearby with July at $17.98, and Aug at $17.66 with September down 17 cents to $17.43/cwt. 

The CME spot trade was mixed with Cheddar Blocks falling 4 cents to $1.35 ¼ and barrels up 2 cents to $1.34 1/4/lb. Butter markets slid a quarter of a cent to $2.46 1/2/b with Grade A Non Fat Dry milk down ¾ of a cent to $1.11/lb and Dry whey unchanged at $0.24/lb. 

With Ever.Ag this is Jenny Wackershauser on Know your Markets.

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