New Delhi, August 17, 2021: Monday was mixed again in the dairy markets. As the USDA announced an increase in SNAP benefits and the world monitors the growth of COVID 19 delta variants spread, the markets were undecided on a direction. The CME spot trade saw Cheddar blocks fall 2 ¼ cents on 3 trades to $1.79/lb but Cheddar Barrels jumped 3 cents higher on 4 trades to $1.48/lb. Butter gained 2 cents and moved 2 loads to $1.69/lb.
Dairy powders also had a mixed day. Grade A Non Fat Dry milk fell a penny to $1.26/lb with Whey gaining ¼ of a cent to $0.52/lb.
Class III Milk showed some weakness nearby, but 2022 gained. Aug fell 4 cents to 16.15, September fell 2 to 17.60 and October fell 17 cents to 17.57/cwt. Jan – July were unchanged to 7 higher, according to reports published in dairyherd.com
Class IV milk however showed some strength. August was unchanged at 15.75, and September gained 11 to 15.98 with October gained 12 to 16.13/cwt.
Grain and feed markets continue to hold their own and keep margins tight. Corn fell 4 ¼ cents to 5.68 ¾, Soybeans gained 3 ¼ cents to 13.68 ¼, with soybean meal gained $2 to $358.70/ton.
