CME spot barrels made up some of yesterday’s lost ground, climbing to $2.1725 per pound, up 4.75 cents, with one lot traded. Spot blocks held steady at $2.0750 with five loads exchanged. Spot NDM also rose to $1.31 per pound, tacking on $0.0050, with three lots sold. CME spot butter dipped to $3.1700 per pound, down $0.0275, with QQ loads exchanged.
Dairy cattle slaughter totaled 54,500 head for the week ending August 17, down 8.9% year-over-year but up 8.6% from the previous week, the first week-over-week gain in a month.
Class III futures followed CME cheese prices higher. Q4 contracts prices lifted to $22.16 per hundredweight, up 28 cents. Class IV was a little more stable. Q4 Class IV futures finished at $22.64 per hundredweight, unchanged on the day.
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.
