Economic - Markets

Milk Markets Can't Stop the Bleeding

Milk markets bled into the weekend after failing to put together two days in a row of a positive move in Cheese. Blocks followed up a nice jump higher on Thursday to fall back 7 ¼ cents to $1.73/lb, but Barrels gained another quarter of a cent to $1.51 1/4. Butter fell 2 cents lower to $2.44 ½. Grade A Non Fat Dry milk was unchanged at $1.17 and Dry whey also held unchanged at $0.25 3/4/lb.

Class III milk fell 34 cents to start out June to $15.29/cwt, July down 42 to $16.14, and Augu fell 38 to $16.99/cwt. 2024 milk futures held unchanged though at just shy of $18.00.

Class IV milk was mostly onchanged. June at $18.18, July at $18.36 and August fell 10 cents to $18.43/cwt.

Grain and Feed markets tightened the dairymen's margin on talk of drought conditions moving into the corn belt. Corn gained 16 ½ cents to $6.09, December corn gained 11 ½ to $5.41 1/4. Soybeans gained 23 cents to $13.52 ½ with November up 14 ¾ to $11.83 3/4/bu. Soybean meal however slid $3.60 to $397.8/ton with December down $1.40 to $367.70/ton.

With Ever.Ag this is Jenny Wackershauser on know your markets.

Source: Collect

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Economic - Markets

Milk Markets Can't Stop the Bleeding

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