Dairy Markets were relatively quiet today. Block and Barrel Cheese remained constant at $1.9100 and $1.5900, respectively. Dry Whey shed ¾ of a cent while Q2 Class III Milk dropped just over 5 cents to $18.08. In Class IV markets, Butter was unchanged at $2.4500 as Nonfat Dry Milk slid two cents down to $1.1800. Q2 Class IV Milk Futures was stagnant at $19.24.
Grain Markets continued to drop today. This recent liquidation in grain markets is an indicator of Managed Money pulling out of contracts. March Corn fell 13.25 cents, taking it down to $6.2950. March Soybeans tumbled over 27 cents to $14.9050. March Soybean Meal also lost some ground, as it slipped $11.10 to $487.60. March Wheat ticked down over 4 cents to $6.9150.
Livestock Markets responded positively as February Live Cattle finished up $2.50, settling at $167.500 as it expired today. April Feeder Cattle added 85 cents to $195.075. April Lean Hogs gave gained 45 cents to $85.175. April Crude Oil added $1.37 to $77.05 while April Fuel was almost the same $2.8056.
