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Milk Prices Press Higher

KNOW YOUR MARKET

June 29, 2022

Markets bounced back Wednesday with a nice CME spot Dairy trade. Blocks gained back 5 ¼ cents to $2.19 ½ with Barrels up 3 ½ cents to $2.19 ½ as well. Butter moved back just shy of that $3 thresh hold at $2.99 ½, up 2 ¾ cents. Grade a Non Fat Dry milk also bounced back, up 3 ½ cents to $1.80/lb with Dry whey holding unchanged at $0.48 1/4/lb.


Class III milk had small gains across the board. July up 18 to $22.80, August up 17 to $23.33, and Sept up 5 to $23.58/cwt. June came off the CME today at $24..33/cwt.


Class IV milk also jumped higher. July up 23 cents to $25.68, August up 31 to $25.23, and September up 32 cents to $25 even.


Grain markets were mixed ahead of first notice day on July contracts and USDA’s plated acres report on Thursday. July corn was 10 ¾ higher to $7.70 ¼, but December fell 5 ½ cents to $6.53 ¾. Soybeans had November up 14 ½ cents to $14.78 ¼ with July SBM at $463.20/ton and October SBM up $7.40 to $407/ton.


With Ever.ag this is Jenny Wackershauser on Know your Markets.


dairyherd.com