Prices on today’s GDT auction settled nearly unchanged overall, with fats settling lower with cheese and Whole Milk Powder making small gains. Fonterra cheddar settled 1.2% higher while butter decreased 0.6%.
Moving along to the CME Cash Dairy Trade, butter melted 7.25 cents to $1.7975/lb on 21 trades. Barrels jumped 6.25 to settle higher than blocks. Barrel cheese are now at $1.8050 while blocks remained at $1.80/lb. Nonfat milk gave up 50 cents to $1.23/lb. Dry Whey printed a whopping $.7025/lb.
Class III milk futures surged higher on the heels of barrel cheese. April milk gained 1 penny to $17.68/cwt. May milk was up 13 cents to $19.29/cwt. June milk added 22 cents to $19.32/cwt. Class IV milk settled lower with the move lower in butter and nonfat.
Green was screen across the board in the grain market. May corn settled 14.50 cents higher to $6.0650/bushel. May soybeans exploded 22.25 cents to $14.72/bushel. May soybean meal was up $2.90 to $410.40/ton. May Chicago Wheat added 7.50 cents to $6.5975/bushel.
Cattle and lean hogs trader higher. June live cattle finished 60 cents higher to $119.20/cwt. May feeders moved 30 cents higher to $142.77/cwt. May lean hogs charged higher to settle at $108.07/cwt. May crude oil fell 77 cents to $62.61/barrel.
