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May 29, 2020

Dairy Markets Surge Higher to End The Week

 |  By: Know Your Market

Blocks and barrels continued their impressive surge higher to end the week.  Cheddar blocks jumped 10 cents to finish the week at $2.23, with no trades this week.  Barrels skyrocketed 9.25 cents to $2.0225/lb on 26 trades this week.  Butter gained 7 to $1.66 on 13 trades today.  Grade A nonfat milk remained unchanged at $1.03.  Dry whey lost .0050 to $.3050/lb.  

Class III milk futures ended the week stronger.  May milk lost 1 penny to $12.18.  June launched a 55-cent gain to $18.45/cwt.  July milk finished 40 cents higher to $17.60.  August milk leapt 51 cents to $16.79/cwt.  Second half 2020 improved 6-51 cents, for an average of $16.78/cwt.  

Class IV milk futures also saw higher prices to end the week.  May milk was up 7 cents to $10.78.  July milk ascended 49 cents to $14.85.  August climbed 61 cents to $15.24.  Second half 2020 soared 46-75 cents higher to $15.46/cwt.  

The grain complex was mixed to close the week.  July corn lost 1.75 cents to $3.2575/bushel.  Spot soybeans declined 6.25 cents to $8.4075.   September Chicago Wheat finished 5.75 cents higher to $5.2350/bushel.  June live cattle fell $1.75 to $99.72/cwt.  August feeders inched 15 cents lower to $135.35/cwt.  July crude oil rallied $1.58 to $35.29.