- Spot butter climbed to $2.4000 per pound, adding two cents, with four loads trading.
- The April butter contract ticked up to $2.3675 per pound, increasing by $0.0072.
- Spot blocks dipped to $1.9525 per pound, down $0.0075, with zero loads exchanged. Barrels remained at $1.8875 per pound, with no lots changing hands.
- May Class III futures slipped to $18.31 per hundredweight, shedding a dime.
- Second quarter “all cheese” contracts settled at $1.8930 per pound, $0.0133 lower.
- Spot NDM was unchanged at $1.1800 per pound, with two loads trading.
- April NDM futures decreased to $1.1925 per pound, losing $0.0025, while the May contract lifted to $1.1915 per pound, gaining $0.0015.
- Spot dry whey rose to $0.4600 per pound, a penny higher, with one lot exchanged.
- Second quarter dry whey futures advanced to $0.4088 per pound, up $0.0144.
- The May corn contract climbed to $6.3275 per bushel, adding $0.0625. May soybean futures bumped up to $14.9150 per bushel, tacking on $0.0225.
FROM THE TRADING DESK: The spot cheese market took a breather today – no trades, barrels unchanged, blocks down a quarter cent. Recent strength had caught many by surprise given continued reports of ample cheese and milk. As a result, second quarter Class III and cheese futures pulled back some, as sellers took advantage of some of the highest prices in a month
