| Commodity | Price |
|---|---|
| Butter | $3.09 1/2/lb |
| Cheddar Blocks | $1.86/lb |
| Cheddar Barrels | $1.94 1/2/lb |
| Whey | $0.44/lb |
| Grade A Non-Fat Dry Milk | $1.20/lb |
Today’s dairy market saw significant movements, especially in Class III milk prices. May Class III milk was released at $18.55, while Class IV finished at $20.50. This marked a day where Class III milk experienced a limit move lower. Traders were early sellers ahead of the dairy products trade at 11 am CST.
| Commodity | Price Movement | Current Price |
|---|---|---|
| Butter | -6 ¾ cents | $3.09 1/2/lb |
| Cheddar Blocks | -3 cents | $1.86/lb |
| Cheddar Barrels | -1 ½ cents | $1.94 1/2/lb |
| Whey | Unchanged | $0.44/lb |
| Grade A Non Fat Dry Milk | +1 cent | $1.20/lb |
| Corn (July) | – | $4.39 ¼/bu |
| Corn (Harvest) | – | $4.59/bu |
| Soybeans | -1 ¾ cents | $11.77/bu |
| Soybean Meal | +2.00 | $359.50/ton |
Class III milk prices tumbled further: June fell 35 cents to $19.50/cwt, July dropped 72 cents to $20.15/cwt, and August declined 73 cents to $20.36/cwt. The balance of 2024 Class III milk followed suit, dropping between 28 to 44 cents.
Class IV milk also faced losses. June dropped 3 cents to $21.31, July went down 33 cents to $21.65, and August decreased by 48 cents to $21.77/cwt.
“Grain prices continued to drop, with corn sliding due to good rain in the Midwest to $4.39 ¼ in July and $4.59/bu at harvest. Soybeans slipped only a penny and ¾ to $11.77/bu, while soybean meal rose by $2.00 to $359.50/ton.”
