After trading limit up during Thursday’s trading session, Class III prices on Friday took back some of those gains. March and April milk lost 46 and 43 cents/cwt, respectively, while May fell 30 cents and June was off 25. The second quarter 2021 average at the close was offering dairies a $17.36/cwt price. 2nd half 2021 prices ranged from 5-10 cents lower with its average settling out at $17.62/cwt. Class IV values ended the week with modest gains.
CME spot dairy auction products had mixed results. Cheddar barrels lost a penny following 5 loads trading to finish at $1.49/lb. Blocks softened 3 and ½ cents to $1.5575/lb, no trades. Butter jumped 7 cents to $1.395/lb on two trades. Nonfat ended unchanged at $1.1125/lb while dry whey’s settlement was also unchanged at $0.5425/lb.
The grain complex saw corn lose 3 cents/bu, soybeans added 4.5 cents, meal fell $1-$2/ton, and the wheat complex ranged from a penny lower to 6 cents stronger.
