A Summer Miracle - Milk Prices Finally See Green!

July finished down 7 cents to $13.90, but August gained 15 cents to $14.52, and September gained a penny to $15.62/cwt.
July finished down 7 cents to $13.90, but August gained 15 cents to $14.52, and September gained a penny to $15.62/cwt.
(Canva)

Cheese found some life the day after the second biggest volume day of Barrels traded on the CME. We actually traded a total of 93 loads of Cheddar Barrels on the CME this week, the second largest volume week after December 15th of 2017. 97 loads of Barrels traded this week and it was a holiday shortened 4 trading sessions. Barrels gained another 2 ¼ cents Friday to finish the week at $1.38/lb and Blocks gained 3 cents to finish at $1.39 1/4/lb. Butter followed, gaining a quarter of a cent to $2.48/lb. Grade A Non Fat Dry milk fell 2 cents to $1.08 3/4/lb with Dry Whey falling a quarter of a cent to $0.22 3/4/lb.

Class III milk found some green!! July finished down 7 cents to $13.90, but August gained 15 cents to $14.52, and September gained a penny to $15.62/cwt. The balance of 2023 and 2024 were mixed trading from 11 lower to 8 higher. Class IV milk was unchanged nearby with July at $18.05, Aug at $17.70, and September at $17.43/cwt. 

Grain markets took some more pressure of of Milk margins with December corn falling 12 cents to $4.94 1/2/bu, Soybeans slid 21 ¾ cents to $13.17 3/4/bu with December Soybean meal down $5.50 to $386.50/ton.

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Milk Prices
 

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