It was a quiet trade day to start the week. CME cheese prices remained unchanged, with blocks at $1.9000 per pound and barrels just behind at $1.8700 per pound. Zero loads of either were exchanged. Spot butter was the only commodity with a price change, settling at $2.6750 per pound, down two cents, with three lots sold.
Milk futures were mixed following Friday’s Cold Storage report. November Class III Milk futures rose to $20.13 per hundredweight, adding nine cents, while Q4 prices dipped to $20.98 per hundredweight, down a penny. At the same time, Class IV prices remained steady, with the nearby contract settling at $20.91 per hundredweight and Q4 prices holding at $20.98 per hundredweight.
Warm, dry weather allowed farmers to advance corn harvest, with 81% of the crop now out of the field, a jump from 65% harvested last week. Soybean harvest is closing in on the finish line, with 89% of the crop harvested, progressing from 81% last week.
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.
