Dairy Markets make a nice rebound Thursday as the CME spot trade finds support. The CME spot trade had Cheddar Blocks jumping 4 cents to $2.38 and barrels holding unchanged but moving 5 loads at $2.34/lb. Butter gained back 2 cents to $2.63 ½ with 2 loads moving from seller to Buyer.
Powders had Non Fat Dry Milk gaining 1 ¼ cents to $1.74/lb and Dry whey held unchanged and failed to move a load at $0.57 1/2/lb.
Class III Milk bounced higher after a small sell off this morning. April gained 8 cents to $24.39, May gained 29 cents to $24.60/cwt, and June rocketed 35 higher to $24.62. The balance of 2022 was 12-36 cents higher.
Class iV milk also claimed back some of the recent fall. April up 10 to $25.30, May unchanged at $24.45, and June up 15 to $24.02/cwt. The balance of 2022 was up 4-52 cents.
Grain markets were mixed Corn up ½ cent to $816 even, Soybeans down 20 cents to $17.06 ½, and SBM back $10.80 to $440.20, $54/ton off its highs in late March.
