Class III futures were lower prior to spot trading but moved into positive territory after spot trading. Blocks moved higher, gaining 2 cents and closing at $1.7675 with three loads traded. Barrels declined 3.25 cents, closing at $1.6950 with six loads traded. Barrel price was initially down to $1.6850 before price came back a penny. This gave the market a little shot in the arm with prices up as much as 15 cents in the April 2022 contract. Overall futures ranged from 6 cents lower to 15 cents higher. Butter price increased 1.25 cents, closing at $1.7825 with one load traded. Grade A nonfat dry milk price remained unchanged at $1.3225 with two loads traded. Dry whey price remained unchanged at 62.75 with no loads traded. Class IV futures have not yet traded. Butter futures are 0.45 cent lower to 0.50 cent higher. Dry whey futures are 0.72 cent lower. Grain futures are taking a beating as some widespread rains moved across the Corn Belt with more forecast in the next 8-14 days. There was also a cancellation of 280,000 metric tons of old-crop corn by China.
