Economic - Markets

Milk Futures Continue to Push Higher

Friday’s CME spot dairy trade was mixed. Block cheese fell 4.25 cents to $2.19/lb. Barrel cheese was down 6 cents to $2.01/lb. Butter added 1.75 cents to $2.71/lb. NFDM gained ¼ of a penny to $1.84/lb. Whey was unchanged at $0.7575/lb.

Milk futures rebounded drastically towards the end of the day in both 2022 and 2023. April milk ended 9 higher to $23.98/cwt. May and June milk both pushed upwards to $24.25/cwt. Second half milk prices saw the biggest surge higher. Class IV milk prices saw April down 4 cents to $25.10. May moved 7 cents higher to $25.13/cwt.

Both green and red appeared on the screen to end the trading week. May corn was up 6.75 cents to $7.6250/bushel. May soybeans fell 10.25 cents to $16.76/cwt. May Chicago Wheat launched a 19.50 cent gain to $11.0650/bushel.

The livestock sector traded higher Friday. April live cattle closed $1.40 higher to $137.30/cwt. April feeder cattle found footing at $157.97/cwt. April feeder cattle increased $2.62 to $102.72/cwt. April crude oil gained $3.30 to $109.33 to close out a very volatile week.

Source: Collect

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Economic - Markets

Milk Futures Continue to Push Higher

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