Monday brings news of a COVID-19 aid program being finalized in Washington.
Dairy saw only a mention of a Donation program and $13 billion earmarked as Emergency Food Aid with USDA discretion for how it will be spent. The CME spot trade was mixed. Butter jumped 2 cents to $1.47 ½, Cheddar blocks fell 4 cents to 1.57 ¾, and Barrels fell a quarter of a cent to $1.47 ¼.
Grade A nonfat dry milk was unchanged at $1.15/lb. with whey holding unchanged at $0.45 ½ /lb.
Class III milk opened Sunday night up strongly, but gave most of it back as the day traded. December was up 5 to $15.69, January gained 7 to $15.63, and February up 1 to $16.45/cwt.
Class IV milk was unchanged nearby – December at $13.42, January at $13.91, and February at $14.14/cwt.
Feed and grain markets saw soybeans make new contract highs. After breaking through $12, we pushed to $12.43 ¼, corn gained 2 ½ to $4.40 even, and soybean meal gained $6.80 to $412.30/ton.