On the Chicago Mercantile milk futures continued lower Wednesday as did cash markets while coronavirus fears continue to dominate trade. Class III milk continued its move lower. February fell 2 cents to $17.01, March was down 8 cents to $16.45, and April slid 23 cents to $16.16. First half 2020 is now averaging $16.57/ cwt. Class IV milk also slid lower throughout most months. February remained unchanged at $16.17. March gained 6 to $15.44. April fell 6 to $15.22.
In the CME product trade, Dry whey unchanged at $0.3525. Blocks unchanged at $1.76. Barrels unchanged at $1.59. Butter down $0.01 at $1.72. Five sales were made ranging from $1.72 to $1.73. Nonfat dry milk down $0.0050 at $1.10. Thirteen trades were made ranging from $1.0925 to $1.10.
It was mixed to lower day today in the commodity markets. Corn fell 2 cents to $3.70 ½ . Soybeans shot up 10 ¾ cents after news broke that Brazil had their first confirmed case of the corona virus before finishing 2 cents higher on the day to $8.81 in March. Soybean meal was up $4.80 to $291.30/ton.