By  E. W. Lang

September and October Class III Milk Futures gained $1.13 and 70 cents per cwt., respectively this week, even as the world's agriculture interests were focused on the opening days of the Iowa State Fair.  Average on Class III for the last quarter of this gained 51 cents over the five trading days, and averages $17.93. 

Class IV Futures, meanwhile, gained 15 cents to average $16.10 for October, November and December. 

Block cheese gained 18 cents per lb. to close out the week at $1.81 and barrels gained 13 cents to close at $1.45. per lb.  the 36 cent spread is a rather large one and can mean whatever you want it to.  Butter at $1.67 per lb. was up two cents. 

Milk-Feed Indices run from $7 to $7.50 for the next ten months, and are up maybe four bits from recent weeks.  This are still historically low margins, mitigated by USDA dairy subsidies on some of the milk produced. 

US dairy exports during June were valued at $663.7 million, up 16 percent from June 2020, according to figures released Thursday by USDA’s Foreign Agricultural Service.

The US Department of Agriculture this week invited offers to sell various cheese and fluid milk products for delivery during the last three months of 2021.

Upon my arrival at the Iowa State Fair, I stopped to shake hands with Lyle Kreps who has owned and operated Stockman's Inn since 1972.  He said he was fully staffed, but one or more other vendors didn't open this year for lack of people to hire. 

Stockman's offers beer, sandwiches and country music to the steer jock crowd, and is located across from the Methodist Food Tent that offers iced tea, beef burgers and salvation to all.