Block and barrel cheese ended the trading week Thursday on a high note in the CME spot dairy auction. Block cheese advanced 4.25 cents to $2.3725/lb. Barrel cheese climbed 6 cents to $2.44/lb on 10 trades. Butter fell 2 cents to $1.7550/lb. Nonfat Dry Fat Milk was up ¼ of a penny to $1.8225/lb. Dry whey remained unchanged at $0.6350/lb.
In the Class III complex, May milk’s settlement price closed into new contract highs at $25.55/cwt. June pushed 20 cents higher to $25.31/cwt. 2023 milk futures saw nice gains as well. Class IV prices were mixed with only mild changes in price.
The grain markets were a mixed bag. December corn was up ¼ of a penny to $7.36/bu. November soybeans dropped 5.25 cents to $15.0050/bu. May soybean meal tacked on $2.30 to $460.50/ton. September Chicago Wheat retreated 17.25 cents to $11.0225/bu.
The livestock markets also varied. June live cattle decreased 45 cents to $136.42/cwt. May feeder cattle declined 17 cents to $161.77/cwt. May lean hogs increased $1.22 to $112.75/cwt. May crude oil rallied $2.34 to $106.61/barrel.
