Class III Milk Continues Its Decent
February 26, 2020
It was mixed to lower day today in the commodity markets. Corn fell 2 cents to $3.70 ½. Soybeans shot up 10 ¾ cents after news broke that Brazil had their first confirmed case of the corona virus before finishing 2 cents higher on the day to $8.81 in March. Soybean meal was up $4.80 to $291.30/ton.
In the CME product trade, butter fell 1 cent on 5 trades to $1.72/lb. Block and barrel cheese prices remain unchanged on 1 offer at $1.76/lb and $1.59/lb respectively. Grade A Non Fat Dry milk lost $.50/lb on 13 trades. Dry whey remained unchanged at $.35 ¼ / lb.
Class III milk continued its move lower. February fell 2 cents to $17.01, March was down 8 cents to $16.45, and April slid 23 cents to $16.16. First half 2020 is now averaging $16.57/ cwt.Class IV milk also slid lower throughout most months. February remained unchanged at $16.17. March gained 6 to $15.44. April fell 6 to $15.22.