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Commodity prices on the move after dry May

Published: Jul. 2, 2021 at 7:13 AM CDT
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ALTOONA, Wis. (WEAU) - Strong demand and concerns over dry weather in May helped pushed commodity prices higher across the state. In May, corn averaged $5.93 a bushel—78 cents more than April and $2.81 better than a year ago. Soybeans averaged $14.70 and that was up 90 cents from the April average and was also $6.57 a bushel higher than last May. Oat prices were also up—to $3.43 a bushel in May—12 cents more than April and 20 cents higher than a year ago. And it was the same story for hay—prices reached $164 a ton for all hay with alfalfa bringing $173 a ton—up $16 from April and $10 a ton more than a year ago. Grass hay averaged $134 a ton in April--$13 more than in April and $24 a ton more than last May.

The Wisconsin all milk price in May was $19.70 a hundred—90 cents more than the April price and $6 higher than last May. Nationally the all milk price was $19.20 as all 24 of the top milk producing states saw higher milk prices for May. New Mexico had the lowest price at $16.90 while Oregon had the highest May milk price at $21.70. The all milk price in Minnesota in May reached $20.20 a hundred—up 20 cents from April.

The official June Class 3 milk price was released yesterday at $17.21 a hundred. That’s down $1.75 from the May price of $18.96. For the first 6 months of this year the Class 3 average is $16.96 a hundred.

World Dairy Expo is on for this year—running from September 28th through October 2nd at the Alliant Energy center in Madison. And for anyone that wants to enter cattle in the show, now is the time to get ‘em entered. All cattle entries are being taken on line this year with a September 6th deadline. The on line address for entries is worlddairyexpo.com. Late entries will be accepted until September 16th but there will be a late entry fee charged for each animal entered late.

The International Agribusiness Center at the Department of Agriculture, Trade and Consumer Protection is planning a trade mission to Seoul, South Korea in October and it will be live, not virtual. Currently the U.S. is the largest exporter of farm products to Korea with a 245 market share as sales of meat, dairy and processed products are growing markets for us in South Korea. That trade mission will run from October 18th through the 22nd and openings are still available.

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