Class IV milk continues its march higher on a jump in Butter and Non Fat Dry Milk in the spot trade. 2022 Class IV milk has a $20.43 average, pulling ahead of Class III. The CME spot trade on Wednesday had 19 loads of butter trade, gaining 4 cents to $2.10/lb with Non Fat Dry milk moving 1 load and gaining 2 cents to $1.66 1/4/lb.
Cheese continued to be mixed with Blocks up ¼ of a cent to $1.94 ¾ with Barrels falling 1 ½ cents to $1.65 1/2/lb . Whey failed to trade a load and held unchanged at $0.71 1/4/lb
Class IV milk had December finish at 19.78/cwt, January gained 30 to 20.55, and February jumped 22 cents to 20.67/cwt.
Class III milk saw nearby getting some selling pressure, but the bulk of 2022 gained. December fell 4 cents to 18.57, January fell 18 to 19.80, and February gained 1 cent to 19.94/cwt.
The grain markets were rangebound. Corn falling 4 ½ to 5.85 ¾, soybeans up 3 cents to 12.62 ½, and soybean meal sliding $4.70 to $372.20/ton.
