Class III Futures Gain Back Lost Ground
The CME Spot trade was mixed today. Blocks jumped 4 and a ¼ cents to $1.96/lb. while barrels advanced to $1.59 a pound. Dry whey finished at $0.3125. Spot butter remained constant at $2.27 per pound while Nonfat dry milk shed a quarter of a penny to $1.1625. March Class III futures climbed 21 cents to $18.16/cwt while March Class IV futures was the same, $18.25/cwt.
Grain markets were up today with March Corn Futures gaining 7.75 cents to $6.825. March Soybeans increased to $15.2350, up 21 cents. Chicago Wheat advanced to $7.47 per bushel. Soybean Meal was on the rise as well, bringing it to $477.10/ton.
February Live Cattle came in today at $1.5672 per pound while February Lean Hogs finished at $77.025/cwt. March Feeder Cattle are running at $182.850 with a big carry in the market, illustrating the lack of feeder cattle coming in the months to come. Crude Oil stayed in the same range, finishing at $81.12 per barrel.
January 26, 2023