Friday was not a good day for dairy markets - the roller coaster of spot trade continued lower on the trade with Cheese struggling on large volume. Cheddar blocks dove 8 ¾ cents lower to $1.53/lb with barrels down 1 ¼ cents to $1.49. Pulling our Block Barrel spread to only 4 cents and our average finished the week at $1.51/lb. Butter also slid slightly lower, down ¾ of a penny at $2.40/lb. Powders held mostly sideways with Grade A Non Fat Dry milk unchanged at $1.17/lb and Dry whey up a quarter of a cent to $0.30 1/4/lb.
Class III milk had May down 3 cents to $16.25, June falling 34 cents to $16.57, and July down 17 cents to $17.46/cwt. The balance of the year was down 8-18 cents. Class IV milk was unchanged nearby and softer in teh second half. May finished at $18.01/cwt, JUne at 18.21 and July fell 10 cents to $18.50/cwt.
Grain markets were mixed after a USDA World Ag Supply and Demand that estimates an over 2 billion bushel carry out for corn and a growing balance sheet if we can continue our planting pace and get record yields. Corn had July up 4 cents to $5.86 ½ with December falling to recent lows at $5.08 3/4/bu. Soybeans were down 15 ½ cents to $13.90/bushel with Soybean meal gaining $1.50 in July to $432.9/ton and December down $3.30 to $392/ton.
