Butter moves into territory we have not seen since September 2015. $3 butter in the CME cash market sets new highs since 2015. Cheese was quieter with barrels a penny higher to $20.25 ½ and blocks fell half a cent to $2.27 ½.
Dairy posers found some support as well. Grade A Non Fat Dry Milk gained ½ a cent to $1.88 1/2/lb with Dry whey up ¾ of a penny to $0.52 1/2/lb.
Class III Milk saw June fell 13 cents to $24.30, July fell 15 to $25.01 and August fell 11 cents to $24.90.
Class IV milk was pretty quiet compared to the move in butter. June and July unchanged at $25.76, $26.27/cwt. August gained 7 cents to $26.20.
Feed and Grain markets were sideways. Corn gained 7 ½ cents to $7.64 ½, Soybeans moved to new highs but retreated back to be up 11 ¾ cents to $17.40 and SBM fell $1.80 to $415.60/ton.
