Cheese Prices Show Signs of Life
May 26, 2021
Cheese showed signs of life after a long stretch of negative trading sessions in the CME Cash Dairy Product Trade. Blocks gained 4.75¢ on 10 trades to $1.5675/lb. Barrels added 2.75¢ to $1.6425/lb. Grade A Nonfat remains around the $1.30 benchmark at $1.29/lb. Dry Whey is at $.6525/lb.
Nearby class III futures months traded higher on the day. May milk was up 2 cents to $18.98/cwt. June milk added 24 to $17.95/cwt. July milk surged 38¢ to $18.59/cwt.
Grain markets were mixed coming off early morning lows. December corn moved as low as $5.0025, settling at $5.2075/bushel. November soybeans inched a quarter cent lower to $13.47/bushel. July soybean meal fell another $2.50 to $383.80/ton. September Chicago Wheat finished at $6.5250/bushel.
Cattle and lean hogs were weaker on the day. June live cattle dropped 27¢ to $116.45/cwt. August feeder cattle declined $1.47 to $155.20/cwt. July lean hogs slid $1.10 to $116.40/cwt. July crude oil gained a dime to $66.17/barrel.