June Dairy Month brings us a CME spot trade of mostly green. Butter gained back 1 ½ cents on 2 trades to finish back above $1.80 at 1.80 1/2/lb. Cheddar blocks slid just half a penny to $1.50 1/2/lb on 9 trades and Barrels gained 1 ½ cents on 6 trades to $1.59/lb. We have large volume continuing to trade with a block/barrel spread inverted for barrels at 8 ½ cents.
Grade A Non Fat Dry milk traded 4 loads and held unchanged at 1.29 ½. Dry Whey gained a quarter of a cent to $0.60 1/4 /lb but failed to move a load.
Class III milk was quiet. June gained 4 cents to $17.32, July gained 2 to 17.89, and Aug gained 3 cents to 18.34/cwt. The balance of 2021 was unchanged to 5 lower.
Class IV was also quiet with June falling 5 cents to 16.65, Aug down 15 to 16.88, and August unchanged at 17.25/cwt.
The grain and feed markets were mixed as the Midwest assesses the damage from this weekends frost. Corn fell 13 cents to 6.75, Soybeans jumped 14 cents on strong Soy oil trade. Soybean meal however fell back $4.70 to 394.00/ton.
