Milk Markets Hit The $25 Mark
Know your Market
April 13, 2022
$25 Milk returns to the CBOT on Wednesday as dairy markets continue higher. Class III Milk saw a nice jump higher with April up 12 cents to $24.22, May pushed past $25 to gain 36 cents and finishing the day at $25.17/cwt with June jumped 27 cents to $25.10. The second half of 2022 is averaging at $24.10/cwt.
Class IV milk was more mixed with April unchanged at $25.25, May down 20 cents to $25.00 and June down 14 cents to $25.02/cwt. The balance of the year was down 15 to 10 higher.
The CME spot trade had gains in cheese. Blocks gained a penny to $2.33/lb, Barrels gained 1 ¼ cent to $2.38/lb. Everything else held unchanged. Butter at $2.77 ½, Grade A Non Fat Dry milk at $1.82, and Dry Whey at $0.63 1/2/lb.
The Grain markets pushed higher into he close. Corn gained 7 ¼ to new highs at $7.83 ½, soybeans followed soy oil and gained 5 ¾ to $16.76 even, and Soybean meal fell $2.70 to $458.20/ton.