Class III milk futures showed continued strength today on the Chicago Mercantile Exchange. May milk gained 17 to $11.90/cwt. June Class III milk futures were limit up 75 cents at $15.35. July up the limit at $16.05. August through October contracts 36 to 71 cents higher. Class IV milk futures were thinly traded with wide bids and offers. July finished limit up to $13.39/cwt. August milk leapt 57 cents to $13.70/cwt.
We saw an impressive gain in the spot cheese and butter market today. Butter up $0.1575 at $1.51. Twelve trades were made, ranging from $1.48 to $1.51. Blocks up $0.0850 at $1.5775. Barrels $0.09 higher at $1.50. Dry whey down $0.0025 at $0.40. Nonfat dry milk up $0.02 at $0.88.
Prices were softer throughout the grain complex today. July corn lost 4 cents to $3.1825/bushel. July soybeans trembled 12.50 cents to $8.3950. May soybean meal fell $3.40 to $285.20/ton. September Chicago Wheat stumbled 12.25 cents to $5.0525/bushel. June live cattle fell $3.30 to $93.875. August feeder cattle lost $2.67 to $133.07. June crude oil declined 21 cents to $25.57.
