On the Chicago Mercantile Exchange milk futures remained under pressure at midweek while cash trade was mixed. Class III milk slid lower with March down 1 cent to $16.23, April down 9 cents to $16.62, and May fell 28 cents to $17.20 per cwt. Class IV milk followed the strength in butter. March unchanged at $14.30, April gained 9 cents to $14.86, and May up 8 cents to $15.22 per cwt.
The spot CME trade saw dry whey up $0.0150 at $0.6275. Two trades were made at $0.62 and $0.6250. Blocks down $0.0450 at $1.67. One trade was made at $1.66. Barrels unchanged at $1.44. Butter up $0.0225 at $1.7225. Three trades were made ranging from $1.70 to $1.7225. Nonfat dry milk unchanged at $1.15. Two trades were made at that price.
The grain markets continued to grind at its current range. Corn gained 2 cents to $5.53 ¼, Soybeans gained 9 ½ cents to $14.32 ¾, with soybean meal gaining $2.20 to $401/ton – The first look at $400 Soybean meal since before 2020.
