On the Chicago Mercantile milk futures started the week mostly lower while cash markets were mixed. Class III milk markets were slightly lower Monday. April gained a penny to $15.86 per cwt while May through December fell 1 to 6 cents. The second quarter 2019 average now stands at $15.79 and the second half is offering $16.39 per cwt. Class IV milk saw little to no change.
Dry whey up $0.0075 at $0.3525. Six trades were made on a range of $0.3475 to $0.3525. Blocks down $0.0150 at $1.6450. One trade was made at that price. Barrels up $0.0025 at $1.5775. Ten trades were made at that price. Butter unchanged at at $2.27. Nonfat dry milk remained unchanged at $0.9875. Two trades were made at $0.9875 and $0.99.
Grain markets were mainly lower ahead of Tuesday’s USDA supply and demand report. Corn prices dropped 2 1/2 cents at $3.60 per bushel. Beans weakened 1/2 cents at $9.32 1/4 on new crop while bean meal added $1 per ton. Wheat fell 2 1/2 in Chicago, added a penny in Kansas City and was mixed in Minneapolis.
