The dairy processing world is busy meeting for ADPI this week and you can tell in the trade. After a basically unchanged spot session today, Class III milk lacked the volume and catalyst to move much either direction. With fewer than 300 contracts trading in May or June, there was not much news to excite or scare the market.
Today’s Highlights from Ever.Ag’s Know Your Markets
- The only price movement and trading in Chicago happened in spot butter, down just a half cent to $2.2750 per pound, with seven lots exchanged. Cheese, NDM and dry whey were all unchanged with zero volume.
- Futures markets were relatively calm as well. May and June Class III contracts ticked up to $18.30 and $17.19 per hundredweight, three and 11 cents higher, respectively. NDM was the only market to log consistent gains through the beginning of 2026. Q3 contracts rose to $1.2733 per pound, adding $0.0111.
- As of April 27, US corn planting was 24% complete compared to 12% last week and 22% on the five-year average. Meanwhile, 18% of the soybean crop was in the ground, up from 8% the week before and 12% on the five-year average.
Ever.Ag - The risk of loss trading commodity futures and options can be substantial. Investors should carefully consider the inherent risks in light of their financial condition. The information contained herein has been obtained from sources to be reliable, however, no independent verification has been made. The information contained herein is strictly the opinion of its author and not necessarily of Ever.Ag and is intended to be a solicitation. Past performance is not indicative of future results.
