Cheddar Finds Green in a Sea of Red
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.