Milk futures, cash dairy trade mixed
Milk futures on the Chicago Mercantile Exchange were in a narrowly mixed range Wednesday as cash trade provided little direction and grain markets took a dive from Hurricane Ida concerns.
September Class III milk down two cents at $16.73. October down six cents at $16.84. November two cents lower at $17.22. December up three cents at $17.38. January through March contracts nine to 15 cents lower.
Dry whey down $0.0125 at $0.4850. Two sales were made at that price.
Blocks unchanged at $1.71.
Barrels unchanged at $1.38.
Butter unchanged at $1.7650.
Nonfat dry milk up $0.0125 at $1.3325. Three trades were made from $1.3275 to $1.3325.
The USDA has adjusted August Class and Component prices lower. The Class II milk price was set at $16.51 per hundredweight, down $0.32 from July, the Class III price was $15.95, $0.54 lower, and Class IV was $15.92, down $0.08.