On the Chicago Mercantile Exchange milk futures flipped lower Thursday taking their direction from the cash market. Class III milk struggled to follow with a sell off in spot Whey. May gained 4 cents to 18.97, June fell 33 to 17.65, and July fell 21 cents to 18.34. The balance of 2021 was 10 lower to 6 higher with winter months popping higher.
The CME spot trade had dry whey down $0.03 at $0.6225. One trade was made at that price. Blocks unchanged at $1.5675. Five trades were made from $1.57 and $1.5725. Barrels down $0.0225 at $1.62. Nine trades were made from $1.62 to $1.65. Butter up $0.0250 at $1.81. One trade was made at that price. Nonfat dry milk down $0.0175 at $1.2725. Six trades were made at $1.27 to $1.23.
Feed prices bounced back on Thursday after giving some buying opportunities. Corn finished limit higher gaining 40 cents to 6.64 1/2/bu. Soybeans bounced 33 ½ cents higher to $15.37, and soybean meal gained back $6.50 to 390.30/ton.
