Not much good stemmed from dairy markets today. Q2 Class III Milk Futures gave up a week’s worth of gains, falling nearly 40 cents to $18.44. Q2 Class IV Milk Futures held up better as it only came down 8 cents to $19.65. The CME Spot Trade was lively as Block Cheese came up $0.0175, to $1.89 with 6 lots traded. A big offer in barrel cheese caused it to slide 2 cents downward to $1.5550, with 15 lots traded. Whey remains unchanged at $0.4350. NFDM lost traction as it tumbled 3.75 cents to $1.2275. Butter continued its run up as it finished at $2.4575.
Grain Markets were all lower today as March Corn started the day strong above $6.88 but then fell 2.75 cents lower than yesterday’s settlement to $6.8225. March Soybeans finished 5.25 cents lower to $15.3750. March Meal followed as it settled 3 dollars lower to $501.0. March Wheat lost 6 cents, settling to $7.86 even.
