Weekend market report: Milk prices still gaining

t’s a warmer 55 degrees this morning in Boise and the Treasure Valley. It's 50 in Poky and IF. Northern Idaho, morning lows in the 50s…. it's going to be a good farming day with clear skies and warmer temps in the forecast over the weekend.

Heavy rains this week rocked the Northwest and upper plains…

Yet Corn trading a full cent higher this morning. Jul 20 Corn futures open at $3.30, up just a cent.

For the second day in a row, the wheat markets open mixed, with losses in winter wheat and gains in MPLS. SRW closed 5 cents lower with July and Sept the weakest. KC wheat is down by 4 cents in the front months. Front-month Minneapolis wheat futures open the session with 4 1/2 to 5 cent gains. Wheat harvest in the upper midwest is progressing…its been dry there.

Milk prices open steady at $20.94 per hundredweight and continue to inch up…that's up another 10 cents from last Friday.

Live cattle futures open 42 cents lower after three days of gains. With a $4-6 basis still, there haven’t been any deliveries against June cattle futures. Feeder cattle futures open down 90 cents. CME’s June 17th Feeder Cattle index was a dime higher to $128.51. USDA confirmed Thursday cash sales from $98 to $103, with the bulk at $102 matching the week’s trend. Export sales data showed 20,097 MT of beef sold on the week ending June 11.

The first crop of hay is still underway in SW Idaho, the heavy rain has slowed hay operations across Idaho.  Swathers out across the state today, trying to get caught up. Demand was moderate to good for limited new crop offerings. Supreme 190, premium 180, good and rain damaged 140.00                                               

That's it for the weekend market report…You can check out the market prices on the Idaho Farm Bureau web page… for the voice of Idaho Agriculture, I'm Jake Putnam