OVERVIEW:
Prices for classes II, III and IV were announced by the USDA this afternoon. All class prices were lower than last month.
MILK:
Class III milk futures are currently trading 5 to 30 cents lower this afternoon. Class IV milk is trading unchanged to 13 cents higher. Non-Fat Dry Milk is trading 0.5 cents lower to 0.125 cents higher. USDA announced Class and Component Prices this afternoon. Class II Price was $19.18 per hundredweight for the month of August, coming in 13 cents lower than July. Class III Price was $17.24 per hundredweight, which decreased 8 cents from July. Class IV Price was $18.50 per hundredweight, a whopping 39 cents lower than the previous month.
AVERAGE CLASS III PRICES:
| 3 Month: | $17.44 |
| 6 Month: | $17.38 |
| 9 Month: | $17.41 |
| 12 Month: | $17.47 |
CHEESE:
Cheese futures are 0.7 to 2.9 cents lower this afternoon. Cash market was 3.5 to 3.75 cents lower. When looking at formulas for the Federal Milk Order Prices, cheese weighed down averages from July to August with mild to moderate slips in prices.
BUTTER:
Butter futures had a nice rebound today, trading 2.625 to 4 cents higher this afternoon. Finally, some relief from the landslide lower we've seen recently. Only moderate help in the cash market, trading 0.25 cents higher than yesterday but still stuck on multi-year lows.
OUTSIDE MARKETS SUMMARY:
December corn closed 1.75 cents per bushel higher at $4.1975, November soybeans closed 1.5 cents higher at $10.33. December soybean meal closed 1.2 cents per ton higher at $283.70. December Chicago wheat closed 2.5 cents lower at $5.195. October live cattle closed $1.350 lower at $236.975. October crude oil is $0.67 per barrel lower at $63.30. The Dow Jones Industrial Average is 350 points higher at 45,621, with the NASDAQ up 209 points at 21,707.
