Class III Milk Futures Explode Higher to Start the Week
April 26, 2021
Grade A Nonfat Milk was the biggest winner in the CME Cash Dairy Product Trade. Grade A Nonfat Milk gained 3.75 cents to $1.29/lb. Butter remains at $1.77/lb. Block cheese was up ¾ of a penny to $1.80/lb. Cheddar barrels lost 1 to $1.7950/lb. Dry Whey added 2.50 cents to $.6450/lb.
Class III milk futures exploded higher today to start the week. April milk was up 2 to $17.66/cwt. May milk surged 36 cents to $19.36/cwt. June milk launched a 46 cent gain to $19.50/cwt. July gained 50 to $19.55/cwt. Class IV futures saw higher settlements as well.
The grain market once again set new contract highs. May and July corn finished limit up while December 21 corn gained 17.50 cents to $5.6825/bushel. May soybeans jumped 29.25 cents to $15.69/bushel. May soybean meal climbed $6.40 to $428.80/ton. May Chicago Wheat increased 29.25 cents to $7.3950/bushel.
Mixed results were seen in both cattle and lean hogs. June live cattle added 55 cents to $116.27/cwt. May feeders lost 40 cents to $137.27/cwt. June lean hogs improved $1.12 to $106.85/cwt. June crude oil fell 20 cents to $61.94/barrel.