CME cheese prices began the week in the red with barrels slipping to $1.8450 per pound, giving up 4.25 cents, while blocks eased to $1.8800 per pound, down $0.0075. One lot of barrels and four lots of blocks were sold. Meanwhile, butter prices dipped to $2.6150 per pound, losing a penny to reach the lowest price since January. Volume: 33 loads sold.
Futures were steadier today with the nearby Class III contract setting at $22.53 per hundredweight, unchanged over the weekend. Q4 futures came in at $21.30 per hundredweight, giving up eight cents. It was a similar story in Class IV with October futures holding steady at $21.10 per hundredweight while Q4 slipped to $21.04, down two cents.
Grain futures dropped following Friday’s bearish leaning WASDE. December corn dipped to $4.0825 per bushel, down 7.5 cents and the nearby soybean contract settled at $9.9600 per bushel, losing 9.5 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.
