Milk markets continue to lurk in the doldrum this week. Failing to find life in the CME spot trade continues our sideways/lower Class III milk. Cheddar Blocks had a nice bounce higher, gaining 3 ½ cents to $1.50 1/2/lb, Barrels, however, continued their slide, losing 2 ¾ cents to $1.44 3/4/lb. Butter held unchanged at $2.43 3/4/lb, Grade A Non Fat Dry milk unchanged at $1.16 1/2/lb with Dry whey also struggling, sliding half a penny to $29 3/4/lb.
Class III Milk was unchanged in May at $16.22, but June fell 8 to $16.33, and July down 6 cents to $17.25/cwt. The balance of the year down 4-12 cents. Class IV markets also slid slightly lower, but May held unchanged at $18.01. June down 2 at $18.19, and July down 7 to18.46/cwt. Class IV continues to trade at a premium to Class III.
Feed and grain prices also slid lower giving dairymen a breather on fall feed prices. Corn fell 11 nearby to $5.81 ½ and December fell 9 384 to $5.05 1/4, soybeans fell 36 ¾ cents to $13.64, soybean meal only fell $4.00 back to $426.90 with December soybean meal sliding to $391/ton.
With Ever.Ag, this is Jenny Wackershauser for know your markets.
