On the Chicago Mercantile Exchange milk futures started Monday again trading lower which cash trade showed some improvement. The Grade A Nonfat dry milk price was also reduced a penny and ended at $1.24 per lb., just one load changed hands. Class III futures markets reacted in a bearish tone in the nearby with March losing 18 cents, April down 9 and May 10 softer. June through December remained relatively flat ranging from a couple cents lower to six cents higher. Class IV saw limited action once again falling 1 to 11 cents February through May.
Dry whey up $0.0050 at $0.3950. Two sales were made at that price. Blocks up $0.01 at $1.94. One sale was made at that price. Barrels up $0.0075 at $1.4850. Two trades were made at $1.48 and $1.4850. Butter down $0.0275 at $1.8050. Five trades were made ranging from $1.7950 to $1.81.
Grain prices had corn two cents lower, soybeans up a couple cents and the wheat complex six cents softer in Chicago, even in Kansas City and two cents lower in Minneapolis. Fat cattle lost $1 per cwt, feeder the same and hogs were down 90 cents. Crude oil dropped 70 cents and diesel is approaching the pivotal $1.60 gallon threshold once again.
