On the Chicago Mercantile Exchange milk futures turned positive Thursday following the release of USDA COVID funding details and supportive cash trade. Class III milk fell 4 cents in March to $16.19, but April gained 18 cents to $16.80, May gained 12 cents to $17.32 and the balance of 2021 was 2-18 cents higher. Class IV milk also saw green. March was unchanged at $14.30, Aprils up 16 cents to $15.02, and May up 9 cents to $15.31 per cwt. The balance of 2021 was unchanged to 6 higher.
The CME had all 5 products moving higher. Blocks up $0.03 at $1.70. Two trades were made at $1.6725 and $1.70. Barrels up $0.02 at $1.46. One trade was made at that price. Butter up $0.0150 at $1.7375. Nonfat dry milk up $0.02 at $1.17. Twelve trades were made at $1.1525 and $1.17. Dry whey unchanged at $0.6275.
Grain and feed was weaker. Corn fell 6 ¾ cents to 5.46 ½, Soybeans fell 18 ½ to 14.14 ¼, while Soybean meal gained $3.60 to $404.60/ton.
