Butter continues its rebound higher, adding 3 cents to $1.71/lb in the CME Cash Dairy Product Trade. Blocks and barrels remained unchanged at $1.75 and $1.50/lb respectively. Grade A Nonfat Milk and Whey lost ¼ of a penny.
The Class III milk market has seen quietness as of late. March fell 13 cents to $16.27, April through December lost 3-10 cents for a 50-cent range of $17.85-$18.35/cwt. Class IV milk saw little volume trade hands.
Grain Markets bled red to follow up yesterday’s mild WASDE report. December corn lost 4.50 cents to $4.8025/bushel. November soybeans tumbled 23.25 cents to $12.3875. March soybean meal gave up 9.10 to $410.10/ton. September Chicago Wheat dropped 4.75 cents to $6.5350/bushel.
Cattle and lean hogs saw both red and green. April live cattle decreased 87 cents to $118.77/cwt. March feeders settled 95 cents lower to $136.20/cwt. April lean hogs gained 42 cents to $88.77/cwt. April crude oil continued its trend higher to $64.82/barrel.
