MILK
Class III milk futures settled 10 cents lower to 4 cents higher. Class IV Futures did not trade today, unchanged from Friday. As the weather begins to change, we anticipate milk production to increase along with the supply available of components such as cream. With Easter fast approaching, we have seen an uptick in demand but not nearly as much as expected.
AVERAGE CLASS III PRICES
| 3 Month: | $16.24 |
| 6 Month: | $16.96 |
| 9 Month: | $17.43 |
| 12 Month: | $17.57 |
CHEESE
Cheese futures settled 0-1.5 cents lower today. Underlying cash found a higher volume of loads traded but was 2.5 - 2.75 cents lower than Friday, continuing the slide to levels lower than we've seen in months.
BUTTER
Butter futures were 0.45-0.95 cents lower today, although April and June were the only board months with any activity. The cash market was unchanged with no bids or offers. Non-fat dry Milk also moved lower today with futures declining 0.125-0.70 cents. Cash also saw a small decrease in price.
OUTSIDE MARKETS SUMMARY
May corn closed 2 cents per bushel higher at $4.4175, May soybeans closed 4.75 cents per bushel higher at $11.7925 and May soybean meal closed $4.20 per ton lower at $337.2. May Chicago wheat closed 9.5 cents higher at $5.4725. April live cattle closed unchanged at $187.60. April crude oil is $0.10 per barrel higher at $78.10. The Dow Jones Industrial Average is 47 points higher at 38,769 with the NASDAQ down 65 points at 16,019.
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