Dairy Markets Dip Down
The dairy markets Thursday were quieter as we saw the CME spot product trade controlled by offers and limited trades. Butter was off ½ of a cent to finish at $2.26/lb. Cheddar blocks ended their positive trend to finish down 1 ¼ cent to $1.71 ¾ /lb. Cheddar Barrels were unchanged at $1.59 even.
Powders had the only physical trades on the day. Grade A Non Fat Dry Milk was off ¼ cent to $0.96/lb on 2 trades and Dry Whey was unchanged at $0.32 even on 6 trades.
June – December Class III milk showed some slight gains on the day. Up 2-4 cents, the second half average came in at $16.30/ cwt. Nearby months didn’t hold the upward momentum we saw over the last few trading sessions. March finished off 2 cents to $15.06 and April was off 6 cents to finish Thursday at $15.63.
Class IV milk saw April finish down 2 cents to $15.85/cwt and May 3 cents higher to $16.11.
Corn and soybeans moved slightly higher ahead of Friday’s planting intentions report. May Corn was up ¼ cent to $3.74 even and Soybeans were up 2 cents to 8.89 ½. July SBM was up $1.90 to finish at $310.20/ton.
For Commodity Risk Management Group, this is Jenny Wackershauser on know y our markets.