Thursday’s spot dairy product trade was steady to higher. Spot cheese was unchanged at $2.1950/lb. Butter held at $2.9950/lb. NFDM gained ¾ of a penny to $1.8075/lb. Whey was up ½ of a penny to $0.4875/lb.
Class III milk futures were lower across the board. July milk was down 22 cents to $22.58/cwt. August milk declined 46 cents to $22.87/cwt. Class IV milk futures also saw weakness.
Corn futures slid after USDA’s Acreage and Quarterly Stocks report above expectations. December corn decreased 34 cents to $6.1975/bu. November soybeans fell 20.25 cents to $14.58/bu after a volatile day of trading. December soybean meal settled 30 cents lower to $406.70/ton.
It was a mixed day in the livestock sector. August live cattle gained 40 cents to $132.57/cwt. August feeder cattle rallied $2.87 to $173.60/cwt. August lean hogs were down $1.47 to $102.10/cwt. August crude oil receded to $105.79/barrel, down $3.99.
