Milk Prices Slide Lower
Cheese and milk prices experienced another rough session on Thursday after a limit move lower on Wednesday. Cheddar blocks fell 2.5 cents to $2.295 per lb. following 4 loads moving from seller to buyer. Barrels also moved 4 loads Thursday as prices dropped 8 cents to $2.36 per lb. Butter regained 5.25 cents after getting whacked 15.5 cents on Wednesday. Butter ended the day at $1.60 ¾ per lb. Dry whey fell a quarter cent to 34 cents and nonfat dry milk closed at 99 cents per lb., also down a quarter cent for the day.
Class III prices fell as much as $1 per cwt during Thursday’s session but closed 27 lower in August, 62 in September, while 4th quarter prices were mainly unchanged. Class IV markets struggled as well, falling double digits.
Improving crop condition reports put pressure on corn and soybeans Monday through Wednesday but rose a half cent in corn today and three cents in soybeans. Wheat weakened 3 in Chicago, 5 in Kansas City, but gained 2 cents in Minneapolis.