Third Day of Green for Milk Markets
April 28, 2020
Green returned for a third day in our milk markets. Class III milk moved higher on overnight trade, with June moving as much as 60 cents higher and held onto small gains after a mixed CME spot trade.
Butter saw 2 loads trade hands on Tuesday to move a penny and a quarter higher to $1.15 ¾ per lb. Cheddar blocks were unchanged but saw 1 load trade hands. Holding onto yesterday’s gains at $1.19 per lb. Barrels fell 1 ¼ cent with 3 loads moving from seller to buyer at $1.08 per lb.
Dry whey continues to hold unchanged at $0.38 ½ per lb. with no loads trading, 1 bid and 1 offer. Grade A nonfat dry milk fell a quarter of a cent to $0.80 ¾ per lb. with no loads trading, 3 bids and 3 offers.
Class III milk fell 2 cents in April, but the balance of months traded in the green. May gained 3 to $11.28, June gained 17 to $12.12 and July – Dec was unchanged to 15 higher with an average price of $14.98 per cwt.
Class IV milk also moved higher. April up 13 to $11.55, May gained 4 cents to $10.25, and June was unchanged at $10.53 per cwt.
Grain and feed markets continue to soften. May corn fell 2 ¾ to $3.02 ¾, soybeans fell 3 to $8.26 even, and soybean meal fell 3.50 to $281.80 per ton.