trends
January 29, 2019

Milk Markets Continue To Jump Higher

 |  By: Taylor Leach

The milk market on Tuesday wasn’t buying the higher trade in the spot product market. 

 

Milk prices added 7 cents in February, 15 cents in March and 9 in April. May-December 2019 ranged from 3-8 cents higher. Class IV markets ranged from a penny lower to 6 cents higher. Product market results had barrels jumping 5 and a ¼ cents to $1.26 and ¼ following 2 trades and four bids. 

 

Blocks traded 4 and ¾ higher to $1.44 and a half following three trades. Butter gained 2 and a half cents after 2 trades and four bids pushing its price up to $2.28 and a half per lb. Dry whey was unchanged at 40 cents per lb. with three uncovered bids and five offers. Grade A nonfat dry milk lost a quarter cent to $1.01 and ¾. 

 

Grain prices took a drive Tuesday. Corn softened 2 and a half cents and closed at $3.77^2. Soybeans lost 4 and a quarter pushing the new crop soybean price down to $9.58 per bu. Chicago wheat settled 5 and a half cents lower, 6 in Kansas City and 5 in Minneapolis. 

 

Cattle markets were 40 points higher in live cattle and feeders 80 points softer. Energy prices were $1.30 stronger in crude and 6 cents higher in the diesel market. 

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