March 11, 2020

Milk Markets Slip Slightly on Wednesday

 |  By: Know Your Market

The milk market on Wednesday was slightly lower in both Class III and Class IV. CME spot dairy auction results had dry way a penny higher following two trades at 34.75 cents per pound. Cheddar barrels had a nice day of trade as 4.5 cents were added to the market finishing at $1.455 following eight trades. Blocks were unchanged on the day settling out at $1.76. Grade A nonfat dry milk lost 1.25 cents on two trades and ended at $1.0675. Butter saw one uncovered bid enter the market and ended at $1.8175 per pound unchanged on the day. 

Class III markets finished one to five cents lower while Class IV markets were down 42 cents in March and 10 cents in April and the other commodity markets. 

Corn lost three cents with December ending at $3.77 per bushel soybeans were also down three at $8.6675. Soybean meal was up a dollar per ton and the wheat complex ended nine cents lower in Chicago and in Kansas City while Minneapolis was off six. The fat and feeder cattle markets were both limit down while hogs were off another dollar.