Green retuned to milk on Wednesday as Class III and IV moved higher on the Chicago Mercantile Exchange. May Class III milk futures up 14 cents to $11.18. June also 14 higher to $12.33. July through September contracts a penny to seven cents higher.
The CME spot trade didn’t see much for gains in pricing, but had nice volumes. Dry whey steady at $0.3550. Blocks down $0.01 at $1.00. Four trades were made, with a range of $1.00 to $1.04. Barrels up $0.0225 at $1.0325. Seventeen trades made, ranging from $1.0325 to $1.0425. Butter down $0.01 at $1.14. Nineteen trades were made, with a range of $1.14 to $1.1750. Nonfat dry milk unchanged at $0.85.
Feed and grain markets continue to slide lower as worries over the livestock, dairy and ethanol industries can maintain the demand needed. May corn fell 6 ¾ cents to $3.19 ¼, soybeans fell 5 to $8.42 even though soybean meal gained 4.70 to $292.20/ton.
