May 1, 2020

Milk Markets Fizzle To Begin May

 |  By: Know Your Market

Milk fizzles out as our week draws to a close and we flip the calendar to May. The CME spot trade was quet with only 3 total loads trading hands. Butter fell a penny with 1 load trading at $1.18 ¾/lb with 5 bids and 5 offers left. Cheese failed to move a load with Cheddar blocks falling a quarter of a cent on 1 offer to $1.20 ½ and Barrels were unchanged at 1.19 with no trades, no bids, and no offers.

Dry Whey continues to be our stable market, gaining a quarter of a cent to $0.39 1/2/lb with 1 trade, 2 bids and 2 offers. Grade A non Fat Dry milk fell ¾ of a cent to $0.79 ¼. 

Class III milk gave back some of its gains from earlier this week. April settled at $13.07, May fell 14 cents to 11.23, June fell 25 to 12.19 and July – December was mixed from 4 higher to 6 lower. Second half average sits at 15.11/cwt.

Class IV milk saw May fall 13 cents to 10.03, June fell 2 to 10.51, and July fell 3 to 10.99/cwt. 

Grain markets slid lower as we saw corn planters flocking to the fields this week. May corn was even at 3.11 ½, Soybeans gave back 3 cents to 8.47 ¼, and Soybean meal fell 2.20 to 287.40/ton