Milk moved sharply lower after the 11 a.m. CME spot trade, but saw some most months rebound a bit. The day finished with December 6 cents lower to $19.37 on the Chicago Mercantile Exchange. January fell 21 to $18.19, February fell 7 to $17.56. Our first half is averaging at $17.32 per cwt. Class IV milk didn’t see as much of a move. December was unchanged at $16.74, January fell 4 to $16.99, and February fell 9 to $17.29 per cwt.
Dry whey down $0.01 at $0.3525. Three trades made, ranging from $0.3525 to $0.3550. Blocks down $0.0375 at $1.91. Barrels down $0.0850 at $1.8625. Butter up $0.01 at $1.95. Nonfat dry milk down $0.01 at $1.2525. Two trades were made at $1.2525.
Feed and Grain expenses continue to fall. December corn fell 5 ½ to $3.57 ¾, January soybeans fell 7 ¾ cents to $8.93 ½, and December soybean meal fell $3.60 to $293.30 per ton.
