Dairy Markets enjoyed a positive today for Class III and a negative day for Class IV. Block Cheese came up $0.0475 to $1.99252 while Barrels increased 6 cents to $1.8600. Whey was unchanged at $0.2850. September Class III tacked on 17 cents to $19.04. In Class IV, Butter subsided 5 cents to $2.62 and Nonfat down a ¼ of a cent to $1.1025. September Class IV didn’t move at all, settling to $18.77. Tight milk, a bid in cheese, and plants shutting down for the holiday could set up for a short squeeze rally in the milk markets over the next couple of weeks.
Grains sold off into the settlement period today. December corn came down 9.5 cents to $4.86750 while November soybeans came off there highs down to $13.9250. December Soybean Meal dropped nearly $7/ton to $411.90. December Wheat tumbled over 16 cents near $6/bushel. Dollar futures gave up 50 points to the downside, settling to $103.470. August Feeder Cattle continue to approach the cash index, coming to $250.700/cwt.
