A record day of butter trading, with 49 loads trading hands on the CME spot trade, gaining 5 ¾ cents to $2.75/lb. This is the most physical loads traded on the CME since they moved to a 5 day trading week from a 3 day week. The rest of the spot trade was not as exciting, Cheddar Blocks gained a quarter of a cent to $2.01 3/4, with barrels slipping 1 ½ cents to $1.83 1/2/lb. Grade A Non Fat Dry milk slid a penny to $1.08 ½ with Dry whey falling half a penny to $0.25 3/4/lb.
Class IV milk was lower in August, sliding 4 cents to $18.90, but the balance of 2024 was higher with September gaining 6 cents to $19.05, October up 11 to $19.00 even, and November up 18 cents to $18.86/cwt.
Class III milk struggled with August gaining a penny to $17.34, but September fell 13 cents to $17.91 and October struggled, slipping 31 cents to $17.80/cwt.
Grain markets saw a bounce higher with continued bombing of grain infrastructure in Ukraine. Corn finished with December up 6 cents to $4.81 1/2, Soybeans gaining back 18 ¼ cents to $13.23 ½ and Soybean meal up $2.10 In December to $284.50/ton.
