Grain markets led a move lower Wednesday after the USDA released its monthly World Supply and Demand Report. Corn finished with May down 8 ¾ cents to $6.25 ½, Soybeans gained 2 ¼ cents to $15.17 ¾ with soybean meal sliding $2.10 to $485.7 after trading $10 higher early in the day.
Class III milk was mostly lower on a day that we continued to narrow the Block/Baqrrel spread. Cheddar blocks fell 4 ¾ cents to $1.79 ¾, barrels gained 3 cents to $1.69 ¾ - narrowing the spread to 10 cents. Butter continued to show weekness, falling 1 ½ cents to $2.33/lb with Dry whey gaining a quarter of a cent to $0.44/lb with Grade A Non Fat Dry milk unchanged at $1.16 ½.
Class III milk fell 2 cents in March to $17.68, down 10 in April to $17.51/cwt and down 9 cents in May to $17.75/cwt. We were unchanged to 10 lower in the balance of the year.
Class IV milk was mostly unchanged, though March fell 10 cents to $18.30, April unchanged at $18.09, and May down 2 to $18.33/cwt.
Cattle prices continue their push to historic highs with June Fat cattle at $160.65/cwt and Aoril Feeders at $200.075/cwt.
With Ever.Ag this is Jenny Wackershauser for Know Your Markets
