The CME spot trade had Cheddar Barrels leading the day with a penny move higher to $1.54 ¾, but Cheddar blocks held unchanged at $1.88/lb. Whey also found some life and gained half a penny to $0.44/lb with Butter unchanged at $2.42 and Grade A non Fat Dry milk falling ¾ of a cent to $1.22/lb.
Class III milk was mixed with February off a penny to $17.92, March down 2 to $17.64, and April up 4 cents to $17.89/cwt. The balance of 2023 was mostly unchanged to 8 cents lower.
Class IV milk had small moves lower: February down 2 to $18.95, March off 6 to $18.87, and April down 12 to $18.80/cwt.
Grain markets had corn down a quarter of a cent to $6.76/bu, Soybeans down ¾ of a cent to $15.26 ½, with soybean meal gaining 30 cents to $491.4/ton.
Crude oil is trading 56 cents lower to $78.04 with the DOW Jones sliding 425 points late in the day to slip back below 34,000 as the U.S. dollar index moves back to levels we haven’t seen since early January 2023 at 103.93.
With Ever.Ag this is Jenny Wackershauser on Know Your Markets.
