MILK
Nonfat dry milk averaged $1.83 per pound for the week of April 16. This is a 0.3-cent increase from the previous week. Dry when averaged 72.9 cents per pound, down 3.8 cents. Spot price for non-fat dried milk (NFDM) slipped 1.50 cents, to $1.7775, with one load traded, while dry whey was up a half cent to $0.6400 with two loads traded. Class IV futures slipped between 2 and 32 cents. Class III futures were 4 to 40 cents higher. The cold storage report will be released tomorrow, along with the cattle on feed report.
AVERAGE CLASS III PRICES:
| 3 Month: | $24.57 |
| 6 Month: | $24.51 |
| 9 Month: | $24.14 |
| 12 Month: | $23.57 |
CHEESE
Cheese prices finally saw better trading, moving up for the first time since Monday of this week. Spot price for blocks increased 2.75 cents to $2.3625 with three loads traded. Barrels were up 2.75 cents, to $2.3700, with nine loads traded. Block cheese price averaged $2.27 per pound, increasing 4.6 cents from the previous week. Barrels were up 8.6 cents to average $2.28 per pound.
BUTTER
Spot butter fell 3 cents, to $2.3700, with nine loads traded. For the week of April 16, butter averaged $2.78 per pound, increasing 4.3 cents from the previous week. Futures slipped at the end of the day, moving between 0.25 cent and 2 cents lower.
OUTSIDE MARKETS SUMMARY
May corn futures fell 16.50 cents to settle at $7.9925 per bushel. May soybean futures increased 1.50 cents, to $17.4825 per bushel. Soybean meal futures were down $2.50, to $468.90. May wheat fell 20 cents to close at $10.68. April live cattle gained $1.28 to $139.90. June crude oil futures was up $1.85 to end at $104.04 per barrel. The Dow was down 368 points to 34,792 points, while NASDAQ was down 278 points to 13,174 points.
