Another Mixed Day In The Commodity Markets
Another mixed day in the commodity markets today. In the CME dairy product trade today, block and barrel cheese continued their downward slide once again. Block cheese was down $.25 per lb. to $1.76 per lb. on 1 offer while barrel cheese slipped $2.00 per lb. to $1.5175 per lb. on 2 offers. Butter rose $.25 per lb. to $1.8650 per lb. Grade A Nonfat milk was the volume mover today, losing $.50 per lb. on 5 trades to $1.1350 per lb. Dry whey remains unchanged for the week at $.3350 per lb.
It was mostly a negative day in Class III milk as we saw March up 4 cents to $16.38 per cwt. April was down 5 cents to $16.03 per cwt. Second half 2020 lost 2-12 cents and is now averaging $17.00 per cwt.
March Class IV milk was the only month in green for Class IV today, rising 5 cents to $15.63 per lb. April Class IV milk declined 10 cents to $15.55 per cwt and May lost 4 cents to $15.84 per cwt. Second half 2020 Class IV milk is averaging $16.76 per cwt.
Corn continued its rebound higher today with May corn moving 3.75 cents higher to $3.85 per bushel. May soybeans also finished 3.75 cents higher to $9.0725 per bushel. May soybean meal finished $1.20 per ton lower to $308.90 per ton.