Markets End the Week on a Low Note
The market roller coaster ended the week on a down note. All commodities continue to see pressure from coronavirus worries. Cheddar held unchanged in the CME spot trade Blocks saw no loads trade or offered and held at $1.74 per lb., barrels moved 6 loads had 6 bids and 1 offer to hold at $1.47 ¾. Barrels moved over 10 cents lower during this week’s trade but blocks only moved 1 ¾ cents lower since Monday.
Butter couldn’t hold its recent gains traded 2 ½ cents lower to $1.85 ½ with 1 load trading hands. Grade A nonfat dry milk fell a penny to $1.11 ½ per lb. with 5 loads moving and Dry whey was our one product to see green. Gaining ¾ of a cent to $0.34 ¾ per lb. with 6 loads trading.
Class III milk was unchanged for March at $16.37, April fell 3 to $16.03 and May fell 9 to $16.28 per cwt.
Class IV milk fell 5 cents to $15.55 in March, down 10 in April to $15.40 and May fell 18 to $15.50 per cwt.
Soybean meal moved counter to the rest of the grain complex – corn fell 7 ¼ to $3.77 ¼, soybeans fell 5 ¾ cent to $8.83 ¼, and soybean meal gained 90 cents to $301.30 per ton.