Easter Bunny Boosts Milk Prices Moderately Post-Holiday
Source: The DairyNews
Following the Easter holiday weekend and with the arrival of spring, the CME spot trade witnessed a slight uptick. Nearly all five dairy products displayed positive movement on the trading board, edging higher.
Cheddar Blocks rose by 2 cents to $1.43 3/4, while Cheddar barrels saw a gain of ¾ of a cent, reaching $1.43 1/2 per pound. Butter also experienced a ¾ cent increase, reaching $2.85 per pound. Grade A Non Fat Dry milk remained steady at $1.12 per pound, while Dry whey gained a quarter of a cent, reaching $0.40 1/2 per pound.
However, Class III milk prices dipped marginally, with April down by 2 cents to $15.54, May down 10 cents to $15.86 per hundredweight (cwt), and June down by 4 cents to $16.60 per cwt. The latter half of 2024 saw trading fluctuating between 2 cents higher and 20 cents lower amid low volume.
Meanwhile, Class IV milk prices closed with slight gains, with April up by 9 cents to $19.89, May up by 4 cents to $19.89, and June up by 12 cents to $20.12 per cwt. The remaining months of 2024 all traded above $20 per cwt.
In grain and feed markets, there was a retracement from Thursday's gains. Corn fell by 6 ½ cents to $4.35 ½, with December corn down by 3 cents to $4.74 3/4. Soybeans declined by 5 ¾ cents to $11.85 ¾, while Soybean meal dropped by $4.30 to $337.30 per ton.
However, Class III milk prices dipped marginally, with April down by 2 cents to $15.54, May down 10 cents to $15.86 per hundredweight (cwt), and June down by 4 cents to $16.60 per cwt. The latter half of 2024 saw trading fluctuating between 2 cents higher and 20 cents lower amid low volume.
Meanwhile, Class IV milk prices closed with slight gains, with April up by 9 cents to $19.89, May up by 4 cents to $19.89, and June up by 12 cents to $20.12 per cwt. The remaining months of 2024 all traded above $20 per cwt.
In grain and feed markets, there was a retracement from Thursday's gains. Corn fell by 6 ½ cents to $4.35 ½, with December corn down by 3 cents to $4.74 3/4. Soybeans declined by 5 ¾ cents to $11.85 ¾, while Soybean meal dropped by $4.30 to $337.30 per ton.
