Spot blocks climbed to $1.9925 per pound, adding $0.0475, with two lots trading. Barrels jumped to $1.8600 per pound, gaining $0.0600, with zero loads changing hands.
Fourth quarter Class III futures advanced to $18.64 per hundredweight, tacking on 27 cents.
Fourth quarter “all cheese” contracts rose to $1.9453 per pound, $0.0243 higher.
Spot butter dropped to $2.6200 per pound, a nickel lower, with 18 lots exchanged.
Fourth quarter butter futures slipped to $2.6209 per pound, shedding $0.0158.
Spot NDM eased to $1.1025 per pound, down $0.0025, with zero loads trading.
WMP prices at the latest GlobalDairyTrade Pulse event reached $2,450 per metric ton, or $1.11 per pound, unchanged compared to the most recent Pulse and down 2.6% versus Contract 2 at the previous main auction.
The September NDM contract dipped to $1.1100 per pound, losing $0.0128.
Spot dry whey was unchanged at $0.2850 per pound, with one lot changing hands.
September dry whey futures increased to $0.2900 per pound, adding a half cent.
The September corn contract decreased to $4.6950 per bushel, giving up nine cents. September soybean futures dropped to $13,8200 per bushel, shedding $0.1325.
FROM THE TRADING DESK: CME spot cheese ran higher today, with block cheddar prices rallying back close to $2 per pound and barrels crossing back above $1.85 per pound. Class III was feeling the love, with the September contract pushing above $19 per hundredweight to the highest level going back to mid-May. It was a different story in the butter market, where spot values dropped to a nickel to early-August lows with 18 lots changing hands. With two trading days left in the month, August butter spot volume so far totaled 235 lots – the largest volume month since August 2020.
Block Cheese: $1.6100, unchanged, 0 lots traded Barrel Cheese: $1.4275, down $0.0425, … Read more
