Dairy products continue their fall off last year’s all-time high prices. On the CME Spot Trade, Block Cheese tumbled down 7 cents, finishing to $1.8450. Barrel Cheese continued to climb to $1.6675, up 3 cents. Dry whey ticked down ¾ of a cent to $0.4375. Q2 Class III Milk Futures averaged $17.93, down 8 cents. In Class IV markets, Butter was consistent at $2.3450 while NFDM slid downward to $1.1650, shedding 1.25 cents along the way. Q2 Class IV Milk futures came down over 30 cents to $18.41, due to another disappointing Global Dairy Trade Auction in New Zealand. The auction was projected to increase 1-2% on prices while instead it decreased 0.7%.
Grain Markets were mixed today. May Corn lost 2 and ¾ cents, settling to $6.3425. May Soybeans fell back off after dry Argentina weather news 13.5 cents to $15.1550. May Soybean Meal $487.80 also dropped in price, down $5.60/ton. May Wheat continues to find resistance at the $7 mark, up 2.75 cents to $6.9800.
