On the Chicago Mercantile Exchange negative global markets continue to weigh on milk futures with prices lower at midweek. Class III milk was unchanged in March at $16.35, April fell 1 cent to $17.41, and May fell 12 cents to $17.03/cwt. Class IV milk was unchanaged nearby but fell in the summer and fall contracts. March held at $14.36, April at $15.07, and May at $15.45. The balance of 2021 was 1-13 cents lower with an average at $16.55/cwt.
The CME spot trade had dry whey up $0.0075 at $0.6050. One trade was made at that price. Blocks unchanged at $1.80. Four trades were made ranging from $1.76 to $1.80. Barrels down $0.0275 at $1.5150. One sale was made at that price. Butter unchanged at $1.71. Nonfat dry milk down $0.0025 at $1.17. Five trades were made at $1.17 and $1.18.
Grain and Feed also seemed to take a nap on Wednesday. Corn gained 3 ¾ cents in Mar to 5.58 but new crop contracts fell 2 ¼ cents with December at 4.75 ½. Soybeans fell 5 ½ cents to 14.17 3/4 with Soybean meal falling $1.20 to $404.90/ton.
