Sideways trade in the commodity markets, though Crude oil took a breather. Crude oil had pushed past $120/barrel last week to ease back to $116 on Wednesday. Feed and grain markets continued to be sideways. Corn up 5 ¾ cents to $7.74, with December down ¼ cent to $7.21/bu. Soybeans were down 4 ¼ cents to $16.93 ¾ and SBM gained $6.50 to $417.50/ton.
Dairy markets were also fairly quiet. The CME spot trade had Cheese bouncing back with Cheddar blocks up 4 cents to $2.22 ½ with Barrels up 3 ½ cents to $2.21/lb. Butter gave up a penny to $2.97/lb. Grade A Non Fat Dry Milk fell ¼ of a cent to $1.81 ¾ with Dry whey down ½ cent to $0.51/lb.
Class III milk was up 3 in June to $24.34, July up 1 to $24.25 and August up 1 to $24.40/cwt. The balance of the year was weaker unchanged to 27 lower.
Class IV milk was unchanged nearby. June at $25.79, July at $25.80 and August up 11 cents to $25.28/cwt. The balance of 2022 was unchanged to 18 cents higher.
