Class III milk settled 13-38 cents stronger in the 2022 market and 21-27 higher in the Q1 2023 time period. Class IV prices were also in the green led by September closing 57 cents higher. Months beyond September rose around 20-30 cents/cwt.
The CME spot dairy index saw spot cheese falter once again despite the higher milk settlements. Barrels closed 6 cents lower at $2.01/lb, two trades occurred. Blocks softened 2 cents to $1.975/lb, one trade transacted. Whey added a penny, butter traded another 16 loads and 3.5 cents higher to $2.965/lb, and nonfat dry milk jumped 3 cents to $1.69/lb.
Grain prices saw 7 cents being added to new crop corn, $6.1075/bu was the ending price. Soybeans rose 38 cents in the new crop to $13.80/bu. Bean meal was up $5/ton. The wheat complex ranged from 25-35 cents higher on Monday.
