On the Chicago Mercantile Exchange milk futures closed mixed while the cash cheese market posted large seasonal losses Monday. Class III milk started the day with green on the overnight into the 11 am CME spot trade, but fell as our cheddar loads showed up to the market. But we didn’t move as low as we normally would expect with a 14 + cent move in Barrels. We finished the day mixed. December fell 4 to $19.51, January gained 2 to $18.64, and February was unchanged at $17.85. Class IV was unchanged nearby with December holding at $16.74, Jan fell 3 to $17.06, but February- April gained 5-7 cents with Feb at $17.42 per cwt.
Dry whey down $0.0050 at $0.3625. Three sales were made at $0.3625 and $0.37. Blocks unchanged at $1.97. Four trades were made ranging from $1.92 to $1.9850. Barrels down $0.1475 at $2.08. Three trades were made at that price. Butter up $0.0150 at $1.93. Three trades were made ranging from $1.9175 to $1.93. Nonfat dry milk unchanged at $1.2675.
Grain markets continue to see mixed trading with December corn falling ¾ of a cent to $3.65 ¾, November soybeans gained 7 ¾ cents to $8.97 ¼ , though December soybean meal didn’t follow soybeans, falling 70 cents to $296.70 per ton.
