A Rough Day for Milk Markets
Class IV milk slide continues on a rough day in the dairy trade. Cheddar Blocks and Barrels saw small moves lower with Barrels down 4 ¼ cents to $1.75/lb and Blocks down a quarter of a cent to $1.81 ¼. Butter fell a penny to $2.31 3/4/lb with Dry whey down 3 cents to $0.41/lb and Grade A Non Fat Dry Milk falling 3 cents to $1.13/lb.
Class IV milk slid 17 cents lower in April to $17.90/cwt, May down 33 to $17.60, and June down 25 to $17.80/cwt. The balance of the year was even to 39 cents lower.
Class III milk, however held up fairly well. April gained 3 to $18.67/cwt, May fell 10 to $18.06, and June down 7 to $18.29. the second half of the year was close to unchanged with an average at $19.32/cwt.
The US dollar continues to soften to $101.62, Crude oil has calmed down at $80.32/barrel, and the grain markets slid lower with Corn down 1 to $6.52 ¾, soybeans down 6 ½ to $15.11/bu, and sbm down $6.80 to $450.60/ton.
With Ever.Ag this is Jenny Wackershauser on Know your Markets.
