Friday’s cheese rally continued on Monday, with Class III milk testing being limited for a few minutes. Cheddar blocks rose 3 ½ cents to $1.55/lb, while cheddar barrels rose 3 ¾ cents to $1.56 3/4/lb. Cheese prices have risen by more than ten cents in recent trading sessions. Butter reached new highs for April at $2.97 per pound, up 3 cents. Grade A nonfat dry milk rose half a cent to $1.13 3/4 per pound, while dry whey fell a penny to $0.38 per pound. Class III milk completed the day with April up 10 cents to $15.67 and May up 34 cents to $16.75, but reached a day high of 17.06 for a brief while. June Class III milk increased 35 cents to $17.39, while July future prices were mainly higher, with November down 4 cents and the remainder up 4-26 cents. Class IV milk continues to reach new heights. April – June remained steady at $20.06, $30.24, and $20.50/cwt, respectively, with the remainder of the year above $21/cwt. Grain and feed markets were flat, with corn up 1 ¼ cent to $4.35 1/2, soybeans down 3 ½ cents to $11.81 ½, and soybean meal up $2.90 to $339.10/ton.
