Cheese continued its descent on Monday as cheddar blocks fell 2.50 cents and barrels were down 2.75 cents. Blocks closed at $1.435/lb as 5 loads traded while barrels ended at $1.46/lb on 12 transactions. Butter was unchanged at $2.8025/lb and failed to trade. Nonfat dry milk softened a quarter cent to $1.1675/lb. Dry whey added a half cent to $0.415/lb.
Class III values reacted in a weaker tone. April traded 16 cents lower while May was off 14 and June lost 7. 2nd half 2024 ranged from unchanged to 10 higher. Class IV only saw May gain in value at just 3 cents on Monday.
Corn prices traded two cents higher. New crop ended at $4.7275/bu. Soybeans weakened around a nickel while meal traded down $4/ton. The wheat complex was around 10 cents higher in all three complexes.
