Dairy products were steady to higher in the CME spot dairy auction. Block cheese gained 4.75 cents to $2.1025/lb. Barrel cheese added a nickel to $1.97/lb. Butter tacked on 2.25 cents to $2.7250/lb. NFDM held firm at $1.8750/lb. Whey finished 1 penny higher to $0.7550/lb.
Class III milk futures surged after the higher spot cheese trade today. April milk jumped 39 cents to $23.39/cwt. May milk finished 43 cents higher to $23.50/cwt. June advanced 26 cents to $23.17/cwt. Class IV milk futures also saw upside. April milk tacked on 2 cents to $25.20/cwt. May milk accelerated 25 cents to $25.25/cwt.
The grain markets whipsawed toward the end of the trading day. May corn gained 22.75 cents to $7.4775/bu. May soybeans were up 4.75 cents to $16.6775/bu. May soybean meal moved $5.40 higher to $453.40/ton. May Chicago Wheat finished limit up to $11.5025/bushel.
The livestock sector was lower on the day. April live cattle fell $1.75 to $138.35/cwt. April feeder cattle declined $2.47 to $160.52/cwt. April lean hogs decreased $1.10 to $105.20/cwt. April crude oil finished well off the highs, falling $2.41 to $108.19/barrel.
