Class III Milk Futures Surge Higher
April 20, 2021
Prices on today’s GDT auction settled nearly unchanged overall, with fats settling lower with cheese and Whole Milk Powder making small gains. Fonterra cheddar settled 1.2% higher while butter decreased 0.6%.
Moving along to the CME Cash Dairy Trade, butter melted 7.25 cents to $1.7975/lb on 21 trades. Barrels jumped 6.25 to settle higher than blocks. Barrel cheese are now at $1.8050 while blocks remained at $1.80/lb. Nonfat milk gave up 50 cents to $1.23/lb. Dry Whey printed a whopping $.7025/lb.
Class III milk futures surged higher on the heels of barrel cheese. April milk gained 1 penny to $17.68/cwt. May milk was up 13 cents to $19.29/cwt. June milk added 22 cents to $19.32/cwt. Class IV milk settled lower with the move lower in butter and nonfat.
Green was screen across the board in the grain market. May corn settled 14.50 cents higher to $6.0650/bushel. May soybeans exploded 22.25 cents to $14.72/bushel. May soybean meal was up $2.90 to $410.40/ton. May Chicago Wheat added 7.50 cents to $6.5975/bushel.
Cattle and lean hogs trader higher. June live cattle finished 60 cents higher to $119.20/cwt. May feeders moved 30 cents higher to $142.77/cwt. May lean hogs charged higher to settle at $108.07/cwt. May crude oil fell 77 cents to $62.61/barrel.