Another round of higher cheese trade ended with the Class III price faltering on Monday on the Chicago Mercantile Exchange. Milk futures closed mostly lower Monday while cash markets were quietly higher. Class III milk declined $0.22/cwt in September on Monday to $16.84. October lost $0.06, November dropped $0.15, and December was down $0.13/cwt. The fourth quarter 2020 average sits at $17.58/cwt. 2021 prices were a mixed bag closing anywhere from $0.08/cwt lower to $0.02/cwt higher. Class IV had little trade with results in 2020 mainly unchanged.
In spot trade dry whey unchanged at $0.3325. One trade was made at that price. Blocks up $0.0275 at $2.1525. Four trades were made ranging from $2.1450 to $2.1525. Barrels up $0.0150 at $1.7150. Three trades were made ranging from $1.7150 to $1.7425. Butter up $0.0075 at $1.50. Nonfat dry milk unchanged at $1.03.
Corn and soybean prices were all over the place on Monday. Corn traded 3.75 cents higher and closed at $3.6175/bu despite trading lower to begin the session. Soybeans acted similar settling 5 cents higher to $9.73/bu. This is the highest close since January 14th with the one year high of $9.8275 in its sights. Soybean meal lost $2.5/ton and the wheat complex fell 3-8 cents/bu
