April 1, 2021
The CME Cash Dairy Product Trade posted strong gains to start the month of April.
Butter gained 2.75 cents to $1.8450/lb. Block and barrel cheese added 3.75 and 3 cents respectively. Grade A Nonfat Milk was up half a penny to $1.19/lb. Dry Whey remains at $.66/lb.
April Class III futures were down 9 cents to $17.51/cwt. May milk jumped 18 cents to $18.41/cwt. June milk finished 16 cents higher to $18.60/cwt. July milk shot 27 cents higher to $18.69/cwt. Class IV saw gains of 3-11 cents in 2021 with 2022 up 8-20 cents.
The grain markets turned around after initial strength on the Wednesday night open.
New crop corn and soybeans were able to maintain gains. May corn decreased 4.50 cents lower to $5.5975. May soybeans took a nosedive of 34.75 cents to $14.02/bushel.
May soybean meal retreated $13/ton to $410.20/ton. May Chicago wheat declined 7 cents to $6.11/bushel.
Fats and feeders showed mixed reactions while lean hogs moved higher. June live cattle finished 35 cents lower to $122.55/cwt. August feeder cattle settled 72 cents higher to $158.00/cwt. April lean hogs rallied 72 cents to $101.77/cwt. May crude oil saw gains of $2.14 to $61.30/barrel.
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