MILK
Class III Milk futures settled 2 cents lower to 28 cents higher with most futures months positive, continuing the bullish sentiment we have seen since we realized the lower cattle numbers released last week. Class IV Futures had limited trading today, settling 1 to 8 cents lower.
AVERAGE CLASS III PRICES
| 3 Month: | $17.23 |
| 6 Month: | $17.89 |
| 9 Month: | $18.26 |
| 12 Month: | $18.28 |
CHEESE
Cheese futures settled slightly higher, trading 1.2 to 3.2 cents higher. An active day in the cash market helped to keep strength into the afternoon. The Cold Storage Report was neutral for the cheese market today. Natural Cheese Stocks were up 1% from last month and 1% from a year ago.
BUTTER
Butter futures settled mixed with most months lower by 0.5 cents to 0.85 cents, however, May settled 1.5 cents higher. The Cold Storage Report had a large increase in Butter Stocks up 25% from last month, while still 6% lower than one year ago.
OUTSIDE MARKETS SUMMARY
March corn closed 7.25 cents per bushel higher at $4.07, March soybeans closed 3 cents per bushel higher at $11.36 and March soybean meal closed $2.90 per ton higher at $334.4. March Chicago wheat closed 3.75 cent higher at $5.7725. April live cattle closed $0.125 higher at $185.725. March crude oil is up $1.07 per barrel at $77.55. The Dow Jones Industrial Average is down 62 points at 39,069 with the NASDAQ down 20 points at 15,976.
