Class III Futures
After a silent day in the spot cheese market Class III futures began selling-off strongly. Dec 14 to Dec 15 contracts settled 1 to 33 cents lower. Tuesday will be a big report day as the September Dairy Products report and September Export numbers are released. These are the final September reporting numbers and could have a great deal of effect on the front months.
Class IV Futures
Monday was a relatively quiet day on the Class IV side of the market. Contracts settled unchanged to 27 cents lower Jan – Sept. Butter futures shrugged off the four cent climb in the spot market and settled very flat compared to Friday’s settlements with very little volume.
Monday was a silent day in the spot cheese market as no bids or offers were posted. Bids came in below the market for NFDM, but buyers were not hungry enough to push the market above Friday’s settlement price. Butter was bid up to $1.9000 and traded there one time. Bid brought the market up to $1.9300 after the trade.
Disclaimer: The risk of loss in trading futures and options can be substantial. Past performance is not indicative of future results.