22 Dec 2024

Class III | Class III Prices Continue to Look Lower for the Near Future

It was a mixed bag across all commodities today.

In the CME Cash Dairy Product Trade butter rose 4 cents to $1.4950/lb. Blocks fell 2.75 cents to $1.53/lb. Barrels slid 5 cents to $1.44 on 11 trades. Grade A Nonfat Milk lost half a penny to $1.11/lb. Dry Whey inched ¾ of a penny higher to $.55/lb.

Nearby Class III months sold off while the back half of the year held strong. February lost 1 to $15.63. March tumbled 18 cents to $16.52. April took a 17-cent splash lower to $17.08/cwt. Little to no volume was seen in class IV milk.

Corn managed to strike a gain of ¾ of a penny to $5.53/bushel in March. March soybeans fell 1 to $13.8375. March soybean meal added $3.30 to $431.70/ton. March Chicago Wheat took a nosedive of 13.50 cents to $6.44/bushel.

Cattle and hogs settled lower on the day. February live cattle declined 85 cents to $115.30/cwt. March feeders decreased $2.35 to $138.42/cwt. April lean hogs suffered a loss of $1.27 to $84.90/cwt. March crude oil soared $1.22 to $61.27/bushel.

Look also

King Island Dairy’s closure has island’s young locals facing uncertain future

Local cheese maker Rowan Cooke was devastated when he heard King Island Dairy would be shutting down.

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Topics |
Class III, Prices

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