Spot butter climbed to $2.9350, the highest price since September 2015 with an impressive volume of 18 trades taking place in the CME Spot Dairy Auction. Blocks fell 3.75 cents to $1.8075/lb. Barrels gave up half a penny to $1.8125/lb. Whey held steady at $0.80/lb. NFDM advanced half a penny to $1.8150/lb.
February class III milk futures saw the most weakness Friday, easing 28 cents to $20.58/cwt. March gained 3 cents to $21.72/cwt. April closed at $21.50/cwt. Class IV milk futures were mostly higher with February class IV surging 44 cents higher to $24.00/cwt. March class IV jumped 40 cents to $23.80/cwt.
The grain markets were mixed. March corn gained 5.25 cents to $6.1625, posting a very strong week. March soybeans fell 11.50 cents to $14.1425 while March soybean meal plummeted $8.10 to $392.70/ton. March Chicago Wheat dropped 10.25 cents to $7.80/bushel.
The livestock sector was also a mixed bag. February live cattle receded 40 cents to $137.92/cwt. January feeder cattle pulled back 90 cents to $160.27/cwt. February lean hogs rallied $1.27 to $86.20/cwt. March crude oil declined 72 cents to $84.83/barrel.
