Milk tankers
April 14, 2020

Class III Milk Futures Muster Up Some Strength

 |  By: Know Your Market

Commodities markets were mixed today.  In the CME Cash Dairy Product Trade butter remained unchanged $1.15/lb.  Cheddar blocks and barrels also remained unchanged at $1.01/lb.  Grade A Nonfat Milk lost 2.75 cents to 85 cents/lb.  Dry whey gained half a cent to .3550/lb.

Class III milk futures were slightly stronger in second quarter of 2020.  April milk finished 3 cents higher to $13.66.  May milk jumped 6 cents to $11.04/cwt.  June milk rallied 14 cents to $12.27.  Second half 2020 is now averaging $15.00/cwt.  

Class IV milk futures were steady to lower on the day.  June milk stumbled 21 cents to $11.05/cwt.  July gained 3 cents to $11.53.  August milk inched 1 cent lower to $11.99/cwt.  Second half 2020 is now averaging $12.52/cwt.

Grains showed a softer tone today.  Spot corn fell 5.50 cents to $3.26/bushel.  May soybeans plummeted 7.25 cents to $8.47. Nearby soybean meal declined $1.10 to $287.50/ton.  Spot Chicago Wheat slumped 6.25 cents lower to $5.4875/bushel.  April Live Cattle gained $2.70 higher to $93.70/cwt.  April Feeder Cattle rallied $1.37 to $116.40/cwt.  April Crude Oil fell $1.71 to $20.70.