Cheese finds a bid! The CME spot trade saw blocks jump 8 ¾ cents higher on 2 trades to $1.71/lb and Barrels jumping 4 cents higher to $1.55/lb. Butter was a bit quieter, failing to trade a load and holding unchanged at 1.74/lb. The dry powder trade continues to struggle this week. Grade A non fat dry milk fell 1 ¾ cents to $1.22 ¾, with whey falling 3 ¼ cents on 1 trade to $0.49 3/4/lb.
Class III milk tried to follow cheese, but whey held it back. July finished up 21 cents to 16.95/lb, Aug gained 33 to 16.92 and Sept gained 4 cents to 17.16/cwt. The balance of the year struggled and saw mostly lower moves into 2022.
Class IV milk slid lower, July down 1 to 16.12, Aug fell 14 to 15.70 and Sept down 1 to 15.84/cwt.
The grain and feed complex had a bounce back for Soybeans after losing nearly a dollar of value on Tuesday. Soybeans gained 22 ¾ cents to 13.86 ½, Corn fell 3 ½ cents to 6.52 ½, with soybean meal gaining $2.20 to $357.20/ton.
