Milk skyrockets higher on a volatile move. After a strong morning trade, the CME spot trade pushed April milk down from 19.19, below 19 and then ran to its highs of $19.48. April Class III milk finished the day at $19.36/cwt, up 37 cents with May also up 23 cents to $18.67/cwt with the second half of 2023 sliding 8-14 cents lower.
Class IV milk was unchanged nearby with March at 18.41, April at $18.04 and May fell 20 cents to $17.98/cwt.
The CME spot trade saw Cheddar mixed. Blocks gained 3 cents to trade back over $2 at $2.01 1/2/lb, yet Barrels fell 1 ¼ cent to $1.94/lb. Butter also slid lower, falling 2 ¼ to $2.38 ¼ and Non Fat Dry Milk fell ½ cent to $1.15/lb. Dry Whey held unchanged at $0.44 3/4/lb.
Grain markets were mixed with Corn finding some support, corn gained 3 ½ cents to $6.33 1/2/bu, soybeans fell 18 ½ to $14.48 1/2/bu with soybean meal falling $9.00 to $451.60/ton.
With Ever.Ag this is Jenny Wackershauser on Know your Markets
