Dairy Markets Ended the Week Stronger
Dairy markets finished off this week in a stronger fashion as both products and milk added a little bit of value. Butter led the products sector gaining 4.5 cents to $1.145 following 7 trades. Block cheese rose 2 cents to $1.07 per lb. while barrels were up a penny to $1.05 on a single trade. Whey ended unchanged at 38.5 cents. Nonfat dry milk traded 10 times and a half cent lower to 81 cents even. For the week, butter traded the greatest amount of volume with 28 loads exchanging hands. Blocks and whey performed the best as 3 and 2 cents were added to prices, respectively.
Class III prices added 14 cents in May, 33 in June and 3-7 cents stronger in second half 2020. Class IV milk was up double digits as well.
Grain markets were all lower on Friday. Corn lost 3 cents with new crop ending the week at $3.36 ¾ per bu. Soybeans softened 7 cents to a price of $8.415. The wheat complex fell 20 cents in Chicago, 10 in Kansas City, and 6 in Minneapolis.