Though our Commodity Markets took a breather on Monday, Dairy held its strength. The Dow Jones Industrial Average and Nasdaq both fell Monday with Crude oil down 73 cents to $78.16/barrel.
The grain markets followed suit. Corn was down 7 cents to 5.99 ¾, soybeans down 25 ½ to $13.84 ¾, with soybean meal falling $8.70 to $416.3/ton.
The spot dairy trade helped support milk. Butter continued to rocket higher, gaining 3 ¾ cent to $2.78/lb with cheddar blocks holding unchanged at $1.99 ½ and barrels were our lone red on the board, giving back 3 ½ cents to $1.83/lb. Our cheese average sits at $1.91/lb. Grade A Non Fat Dry milk gained 1 ¼ cents to $1.72 ¼ with dry whey unchanged at $0.75 1/2/lb.
Class III milk was down 2 cents in January to $20.27, February gained 12 to $21.65, with March up 29 to $21.53/cwt. The balance of 2022 was up 5-33 cents.
Class IV Milk continued to march higher. January up 5 to $22.40, February up 33 cents to $22.46, and March up 21 to $22.43. First half of 2022 averages at $22.27/cwt.
