Class III and IV milk markets failed to excite on Friday. Class III July and August lost 10 and 16 cents/cwt and closed at $15.97 and $16.92/cwt, respectively. September closed unchanged at $17.79 while October and November were up 5 and 10 cents. Class IV saw just three months trade with August closing 16 cents lower at $18.12/cwt, November lost 2 cents, and December was a penny softer at $19.04/cwt.
CME spot dairy auction products were led lower by block cheese. Blocks faltered a nickel to $1.4225/lb, 8 loads moved from seller to buyer. Butter declined three quarters of a cent to $2.3625, 5 trades took place. Nonfat dry milk was off a quarter cent at $1.16/lb. Barrels and whey were both unchanged despite volume being exchanged.
Grain markets were mixed following USDA’s June Supply and Demand report. Corn closed 2-6 cents lower while soybeans jumped 15-20. Meal was relatively unchanged past August. Wheat markets ranged from 4 higher to 10 lower. Old crop corn stocks increased 35 million bushels to 1.452 billion bushels. New crop carryover was also up 35 million to 2.257 billion. Soybean carryover was up 15 million bushels in both the old and new crop.
