March 12, 2020

Cheddar Finds Green in a Sea of Red

 |  By: Know Your Market

Cheddar cheese was one of the few markets to find green today.  In the CME dairy product trade today, cheddar blocks rose 5 cents to $1.81 per lb. on 1 trade.  Cheddar barrels gained 3.5 cents to $1.49 per lb. on 6 trades, leaving 6 bids and 2 offers left standing.  Grade A nonfat dry milk finished 1.75 cents lower to $1.05 per lb. on 18 trades, leaving 4 bids and 6 offers left standing.  Dry whey remained unchanged at $.3475 per lb.  Butter lost 50 cents to $1.8125.  

Class III milk prices finished lower here today.  April milk lost 3 cents to $15.80 per cwt.  May milk fell 14 cents to $15.79 per cwt.  Second half 2020 fell 8-12 cents and is now averaging $16.71 per cwt.

Class IV milk prices were annihilated today.  March fell 41 cents to $15.11 per cwt.  April was 48 cents lower to $14.72 per cwt.  

Fats and feeders were both limit down here today.   Spot corn fell 8.75 cents to $3.6575 per bushel.  Spot Soybeans were amongst the hardest hit dropping 13.75 cents to $8.5950 per bushel.  May soybean meal finished $1.20 higher to $302.80 per ton.