Dairy Markets Surge Higher to End The Week
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.