markets | Milk Markets on a Downward Slide

The bears drove the market Wednesday as we saw most commodities move lower. The dairy markets continued to see only Cheese floundering.

The CME spot trade had Cheddar blocks down 7 cents to $2.05 with 1 load trading and Barrels fell 4 cents to $1.98/lb with no loads trading hands. Butter held unchanged at $2.73/lb.

Wheat was our lone green on the board. Gaining ¼ cent to $0.76/lb and Grade A Non Fat Dry Milk was unchanged at $1.84 1/2/lb.

Class III milk continued its slide below $23. March actually gained 1 cent to $22.38, April fell 53 cents to $22.88, and May down 54 to $23.33/cwt. The balance of 2022 was down 8-39 cents.

Class IV was mostly unchanged. March at $24.8, April down 19 to 24.86 and May at 24.95. The balance of 2022 unchanged to down 25.

The grain complex was lower as crude continues to soften. May corn down 28 to $7.30, May soybeans fell 9 ½ cents to $16.49 ¼, with sbm down $6.00 to $478/ton.

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