Cheese prices sliced back through its most recent gains in the CME Cash Dairy Product Trade. Blocks gave up 4.25 cents to $1.76/lb. Barrels retreated 7 cents to $1.7750/lb. Butter moved 1.25 cents higher to $1.7475/lb. Grade A Nonfat Milk lost 1.25 cents to $1.3450/lb. Dry Whey remains firm at $.6475/lb.
Class III milk futures crashed after the move lower in spot cheese. May milk lost 28 cents to $18.87/cwt. June milk finished limit down to $19.01/cwt. July milk dropped 61 cents to $19.25/cwt. Class IV milk settled lower on the day as well.
Grains exploded higher and set new contract highs once again. December corn rocketed 20.75 cents higher to $6.2550/bushel. November soybeans surged $14.09/bushel. May soybean meal was up $3.40 to $427.70/ton. May Chicago Wheat gained 8.50 cents to $7.6425/bushel.
Feeder cattle continue to slide lower. August feeders declined $1.82 to $143.40/cwt. June live cattle added $1.05 to $115.47/cwt. June live hogs gained a nickel to $114.47/cwt. June crude oil decreased 78 cents to $64.85/barrel.
