To close out the trade week, spot NDM prices rose to $1.2550 per pound, up a penny, to reach the highest prices since February 2023. Meanwhile, butter prices settled at $3.1800 per pound, adding $0.0050 with 24 lots sold. Butter had the third-heaviest trade week in history, with 103 loads exchanged.
After settling limit up yesterday, Class III and “all cheese” futures lost ground today. Q4 Class III milk slipped to $21.15 per hundredweight, giving up 27 cents, and Q4 “all cheese” prices dipped to $2.0590 per pound, down $0.0240. At the same time, Class IV futures picked up, with Q4 settling at $21.89 per hundredweight, up 20 cents.
Grain prices continue to fall as we inch closer to harvest. September corn settled at $3.7050 per bushel, down 4.5 cents, and the nearby soybean contact finished the week at $9.7975 per bushel, losing 9.25 cents.
Ever.Ag - The risk of loss trading commodity futures and options can be substantial. Investors should carefully consider the inherent risks in light of their financial condition. The information contained herein has been obtained from sources to be reliable, however, no independent verification has been made. The information contained herein is strictly the opinion of its author and not necessarily of Ever.Ag and is intended to be a solicitation. Past performance is not indicative of future results.
