It was no April’s fool joke for Class III Milk futures. Class III milk saw April fall 4 to 14.45, but the balance saw nice gains. May up 38 to 13.12, and June gained 50 cents to 13.56. July forward gained 37-55 cents to average at 14.89/cwt. Class IV milk recouped some losses as well. April up 2 to 11.54, May gained 40 cents to 11.73 and June gained 19 to 11.87/cwt.
The CME spot trade saw Dry whey steady at $0.33. Blocks down $0.02 to $1.31. Barrels down $0.03 to $1.1750. Butter down $0.0250 to $1.31. Five trades were made, ranging from $1.31 to $1.3225. Nonfat dry milk down $0.01 at $0.8750. Eleven trades made, with a range of $0.86 to $0.88.
Grain markets didn’t follow the milk trend. Corn fell 6 cents to 3.34 ¾, Soybeans fell 23 ¼ cents to 8.62 ¾, and Soybean meal fell $6.60 to $314.90/ton.
