Dairy Market US: Spring Milk Prices Show Growth Amid Cheese Rally
Source: The DairyNews
Following a rally in cheese prices on Friday, the dairy market maintained momentum on Monday, with Class III milk experiencing a significant uptick.
Cheddar blocks and barrels saw notable gains, pushing cheese prices up by over 10 cents in recent trading sessions. Butter also reached new highs for April, while Grade A non-fat dry milk saw a modest increase. Dry whey was the only exception, dipping slightly.
Class III milk prices closed with April up 10 cents to $15.67 and May up 34 cents to $16.75, reaching a daily high of $17.06 briefly. June Class III milk surged by 35 cents to $17.39, with forward contracts for July showing mostly positive movements, albeit with slight fluctuations.
Meanwhile, Class IV milk prices continued their upward trajectory, with April to June holding steady at elevated levels, while the remainder of the year remained above $21/cwt.
In the grain and feed markets, corn prices saw a marginal increase, while soybeans experienced a slight decline. Soybean meal, however, found some support and recorded gains.
Despite sideways movement in grain and feed markets, the dairy sector's positive performance reflects growing confidence and potential opportunities for producers.
Class III milk prices closed with April up 10 cents to $15.67 and May up 34 cents to $16.75, reaching a daily high of $17.06 briefly. June Class III milk surged by 35 cents to $17.39, with forward contracts for July showing mostly positive movements, albeit with slight fluctuations.
Meanwhile, Class IV milk prices continued their upward trajectory, with April to June holding steady at elevated levels, while the remainder of the year remained above $21/cwt.
In the grain and feed markets, corn prices saw a marginal increase, while soybeans experienced a slight decline. Soybean meal, however, found some support and recorded gains.
Despite sideways movement in grain and feed markets, the dairy sector's positive performance reflects growing confidence and potential opportunities for producers.
