Milk markets find a spark on Wednesday with a mixed spot trade. CME spot trade had cheese mixed with Cheddar Blocks gaining 3 ¾ /lb to $1.87 ¼, but barrels fell 1 ½ cents to $1.57/lb. The spot average price sits at $1.72/lb. Butter and powders held unchanged. Butter at $2.39 ½, Grade A Nonfat Dry Milk at $1.23 ½ and Dry whey at $0.43/lb.
Class III milk liked what it saw in spot and had February gaining 4 cents to $17.81, March jumped 21 cents to $17.62, and April up 18 to $18.01/cwt. The balance of 2023 was 6-18 cents higher.
Class IV milk was mostly unchanged with February at $18.76, March at 18.66 with only April gaining 7 cents to $18.83/cwt.
Grain markets saw very small gains after a mixed trade following the February USDA World Supply And Demand Report. Corn gained 4 ½ cents to $6.78 ½, soybeans jumped 4 ½ cents to $15.19 ¾, with soybean meal sliding 50 cents higher to $481.90/ton.
With Ever.Ag this is Jenny Wackershauser on Know your Markets
