Milk Markets Tumble

Commodities were down in almost all categories.
Commodities were down in almost all categories.
(Stock Photo)

Commodities were down in almost all categories. On the CME Dairy Spot Call, Blocks tumbled nearly 5 cents down to the lowest point since 2020 while Barrels gained a half cent. Dry whey remained the same. Adding these all up, we get a Cash Class III milk price of $13.70. Butter stayed constant at $2.43 as Nonfat lost almost a whole cent, to $1.1625. June Class IV was the same at $18.16.

December Corn dropped 9 cents after its rebound last week, settling to $5.2525. November Soybeans had a massive loss of over 36 cents, finishing at $11.5325. Soy Oil lost a couple of cents down to $0.4620. December Soybean Meal subtracted over 9 dollars down to $366.70. July Wheat lost 25 cents, finishing at $5.9100. 

Livestock was able to pick up the slack from the rest of sluggish market today. June Live Cattle added over $1.50 to $177.425. August Feeder Cattle ramped up about 4 dollars to $237.775. June Lean Hogs finally caught a break today, adding $4.750 to finish the day at $80.825. July Crude Oil dipped below $70/barrel while near-by Fuel broke below $2.30 on lack luster Chinese oil consumption.

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