Cheese finds a bid and butter continued its slide in a mixed day in the dairy trade. The CME spot trade saw butter struggle again and fell 3 cents to $2.45 ¼, Cheddar Blocks however, gained 2 ¼ cents to $1.88/lb with Barrels up 4 ½ cents to $1.84. This gives us a $1.86/lb average cheese price and a block/barrel spread that has narrowed to only 4 cents.
Grade A Non Fat Dry Milk fell 1 ¼ cents to $1.79 ¾, with Dry whey gaining half a cent to $0.85 3/4/lb.
Class III milk saw small gains across the board. February up 18 to $20.31, March up 16 to $21.51, and April up 11 to $21.60/cwt. The balance of the year unchanged to 16 cents higher.
Class IV milk struggled with both butter and non fat slipping lower. February fell 15 to $23.45, with March down 39 to $23.74 and April off 34 to $23.15/cwt. The balance of the year was unchanged to 14 cents lower.
Grain and Feed markets also were mixed. Corn struggled to stay in the green tumbling 12 ¼ cents to $6.22 ½, soybeans however, bounced around and finished the day 16 ¾ cents higher to $15.45 ¼, with SBM down 90 cents to $435.10/ton.
