Global Dairy Trade event 304 concluded on Tuesday with the overall price index down 0.9%. Skim Milk Powder gained 1.4% to $2.06/lb. Whole Milk Powder slid 3.4% to $2.08/lb. Cheddar Cheese gained 0.3% to $2.91/lb. Butter lost 1.8% to $3.16/lb.
Turning to the CME spot dairy product auction, block cheese gave up 7 cents to $2.12/lb. Barrel cheese dipped to $2.02/lb. Butter remained at $2.7350/lb. Whey held steady at $0.7575. NFDM continued at $1.8450/lb.
Milk futures were lower on the day for both class III and IV. April tumbled 48 cents to $23.42/cwt. May lost 25 cents to $23.87/cwt. June dropped 15 cents to $24.05/cwt. April class IV closed at $25.05/cwt. May class IV settled at $25.15/cwt.
The grain markets were a mixed bag Tuesday. May corn gained 9.50 cents to $7.5775/bushel. May soybeans fell 13.50 cents to $16.57/bushel. May Chicago Wheat rallied 61 cents to $11.57/bushel.
The livestock sector was slightly higher. April live cattle rose 52 cents to $140.85/cwt. April feeder cattle added 20 cents to $162.60/cwt. April lean hogs also jumped 20 cents to $102.40/cwt. April crude oil declined $6.36 to $96.65/barrel.
