Another weak Class III performance was experienced on Monday following last week’s downturn in price. 2024 prices from March through September ranged from 4 lower in July to 20 softer in April. Q4 2024 was mixed as October fell 6 cents, November was off 2, and December closed 8 cents higher. Class IV markets had April 6 higher and May up 3. June through December 2024 saw futures unchanged to 11 lower.
CME spot product markets saw butter rebound 5.25 cents to $2.81/lb on a single load changing hands. Cheese had blocks down 2.25 cents to $1.5275/lb with 9 trades taking place. Barrels lost a quarter cent to $1.6475. Whey and nonfat both closed unchanged on the day.
Grains watched green return to the screen finally on Monday. Corn traded a nickel higher with spot March closing at $4.175/bu and new crop at $4.63. Soybeans were also up around a nickel, new crop ended at $11.34/bu. Meal traded $1/ton stronger. Wheat ranged from 3 higher in Chicago to 22 stronger in Kansas City.
