A ho-hum spot trade continue to cause milk prices to erode lower. The CME spot trade again had Cheese mixed with Cheddar Barrels unchanged at $1.85/lb and Blocks falling 2 ½ cents to $1.72 1/2/lb. Butter found a little life and gained half a penny to $3.05 1/2/lb. Powders however struggled, Grade A non Fat dry milk fell 1 ½ cents to $1.55/lb and Dry Why down half a cent to $0.47 1/2/lb.
Class III Milk had September down 16 cents to $19.63, October slid 21 to $19.89, and November fell 29 cents to $20.71/cwt. 2023 was unchanged to 20 cents lower with Jan – March averaging at $20.55/cwt.
Class IV milk also slid lower nearby. September fell 13 cents to $24.02, October fell 35 to $23.25, and November fell 46 cents to $22.78. First quarter 2023 Class IV is averaging at $21.56/cwt.
Grain markets followed the softness in Crude oil to slide lower. Corn down 6 cents to $6.73 ¼, November Soybeans down 10 cents to $14.22 1/2/bu with October Soybean meal falling $9.10 to $420.70/ton.
With Ever.Ag this is Jenny Wackershauser for Know your Markets.
