Dairy markets on Monday were very quiet in both the product and milk spaces. Butter, block cheese, barrel cheese, and nonfat dry milk all ended their respective spot sessions unchanged and failed to trade. Butter closed at $2.69/lb, blocks at $1.99/lb, barrels ended at $1.825/lb, and nonfat at $1.11/lb. Dry whey traded three loads and declined a quarter cent to $0.2675/lb.
Class III milk prices retreated a bit as September 2023 milk lost 15 cents, October dropped 16 cents, November weakened 21, and December was off 13. 4th quarter 2023 average settled at $18.12/cwt. No trades or change was seen in 2024 in the Class III market. Class IV markets were unchanged across the board with zero volume coming to the exchange.
Grain market results were diverse on Monday as soybeans gained 18 cents in the November new crop contract, settlement came in at $13.26/bu. Soybean meal gained $3-$5/ton as well. Corn shook off early losses and maneuvered into the green by the end of the session. Corn closed at $4.8775/bu. Wheat struggled and ranged from 5-12 cents lower.
