On the Chicago Mercantile Exchange milk futures closed lower Monday again as coronavirus market fears remain and cash trade remains weak. Class III milk saw February fall 22 cents to $16.92, March fell 37 cents but holds above $17, at $17.38 per cwt. and April fell 31 cents to $17.26 percwt. First half of 2020 has an average price at $17.16 per cwt. Second half of 2020 sits at $17.50 per cwt. Class IV milk also slid lower, February down 6 to $16.79, and March fell 15 to $16.75 per cwt.
Dry whey unchanged at $0.3650. Blocks unchanged at $1.92. Barrels down $0.0450 at $1.4550. Five sales were made ranging from $1.4550 to $1.46. Butter up $0.0050 at $1.9050. Thirty-seven trades were made ranging from $1.89 to $1.9050. Nonfat dry milk down $0.01 at $1.23.
Grain and feed markets were mixed. March corn moved 2 ½ lower to $3.78 ¾, and March soybeans gained 4 ½ cents to $8.77 even, and March soybean meal fell $1.20 to $289.80 per ton.
