The CME spot trade finished the week with nice moves higher to support a rebound in milk.
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(Reuters)

Cheddar broke back to a $2.27 average with Blocks up 4 ½ cents to $2.29 ½ and Barrels up 5 cents to $2.25 ¼. Barrels traded an impressive 7 loads.

Butter also gained back a penny to $2.71/lb with Grade A Non Fat Dry Milk up half a penny to $1.85/lb but whey floundered, losing 5 ¼ cents to $61/lb.

Class III Milk gained 1 cent in April to $23.69, up 8 in May to 24.55 and June gained 8 cents to $24.35/cwt. The balance of 2022 was up as much as 22 cents.

Class IV milk was mixed. April fell 2 cents to $25.10, May was unchanged at $25.10, and June gained 8 cents to $25.15.

Grain markets was mostly lower nearby with corn gaining in December. May corn fell 13 ¾ to $7.35 even, Soybeans fell 35 ½ to $15.82 ¾, with sbm down $17.50 to $450/ton. SBM has fallen $44/ton from its highs from last week.

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