On the Chicago Mercantile Exchange Cash Dairy Product trade were negative once again today. Class III milk futures were pressured on the heels of a lower cheese product trade. April milk was down 20 cents at $14.75. May declined 31 cents to $12.82. June milk slid 9 cents to $13.23. Second half 2020 lost 7-31 cents and is now averaging $14.61/cwt. Class IV milk futures tumbled downwards. April milk suffered a 37 cent loss to $11.52. May milk drifted 20 cents to $11.33/cwt. July milk was 7 cents lower to $12.02. Second half lost 7-48 cents and is now averaging $12.50.
Dry whey steady at $0.33 Blocks down $0.1075 at $1.33. Barrels down $0.0950 at $1.2050. Seven trades were made, ranging from $1.21 to $1.2575. Butter down $0.0625 at $1.3350. Five trades made, with a range of $1.3350 to $1.3625. Nonfat dry milk down $0.01 at $0.8850.
Spot corn inched ½ cent lower to $3.4075/bushel. Nearby soybeans finished 3.75 cents higher to $8.86. May soybean meal was $4 lower to $321.50/ton. May Chicago Wheat rallied 5.5 cents to $5.77/bushel. Kansas Wheat rose 6.25 cents to $4.93. Fats and feeders closed higher on the day. June live cattle were up $3 to $92.075/cwt. May feeder cattle finished $2 stronger to $122.90.
