May 8, 2020

Milk Futures End the Week Higher

 |  By: Know Your Market

The spot cheese market continued its uptrend today. Cheddar blocks remained unchanged on 1 bid at $1.3050. Cheddar barrels rose 1.75 cents to $1.27/lb on 5 trades.  Butter gained 1 to $1.29/lb. Grade A Nonfat milk inched .0025 a cent higher to $.82 and half a cent/lb.  Dry whey fell .0025 to $.3975/lb.

Class III milk futures were higher to end the week.  May gained 7 cents to $11.55/cwt.  June milk rallied 43 cents to $13.73/cwt.  July milk climbed 31 cents to $14.72.  Second half 2020 ranged from 4 lower to 31 cents higher.  Second half 2020 average sits at $15.57/cwt.

Class IV milk futures were thinly traded today.  May and June did not trade.  July led the charge higher, climbing 55 cents to $12.10.  August milk gained 36 to $12.68/cwt.  September milk jumped 25 to $13.00 even.  

July corn finished 1.25 higher to $3.1925/bushel.  December corn sits at $3.3575.  July soybeans climbed 6.25 cents to $8.5050/bushel.  September Chicago Wheat fell .25 cent to $5.2525.  June live cattle finished 67 cents higher to $94.65/cwt.  August feeders declined $1.20 to $136.95/cwt.  June crude oil traded $1.19 higher to $24.74.