Cheddar Prices Reach an All-Time High

 In the CME Spot Dairy Auction, block cheese pushed through $2.00/lb to settle at $2.03/lb. Barrel cheese remained at $1.9350/lb. Butter tacked on 6.25 cents to $2.6925/lb. NFDM gained 1 penny to $1.86/lb. Dry Whey fell ¾ of a penny to $.7525/lb.

Class III milk prices increased across the board. March milk tacked on 21 cents to $22.26/cwt. April milk surged 36 cents to $23.11/cwt. May settled 57 cents higher to $23.01/cwt. Class IV also was higher. April milk added 30 cents to $25.10/cwt. May rallied 43 cents to $24.95/cwt.

Markets continue to trade unpredictably as the world is on edge with the war between Russia and Ukraine. The grain market exploded higher on the day. March corn was up 42.25 cents to $7.3925/bu. March soybeans finished 61.25 cents higher to $17.0550/bu. March soybean meal gained $8.80 to $463.70/ton. March Chicago Wheat climbed 73.75 cents to $10.0175/bu.

The livestock sector was mixed on the day. April live cattle lost 90 cents to $140.52/cwt. March feeder cattle fell $1.45 to $156.27/cwt. April lean hogs pushed $2.70 to $106.20/cwt. April crude oil increased $9.19 to $104.92/barrel.