CME spot dairy index prices performed stronger on Friday as cheese led the way. Blocks added 6.5 cents to a value of $2.20/lb. Barrels gained 2.25 cents to $2.0625/lb. One trade took place for blocks and two in barrels. Butter closed unchanged at $2.905/lb. Nonfat dry milk strengthened 3 cents as six loads moved hands. Dry whey was unchanged at $0.44/lb.
Class III milk values didn’t perform as well as cheese. Milk settlements ranged from 10 lower to 18 cents stronger out through December 2023. Class IV milk did a little better as markets closed 10 - 30 cents in the green.
Grain markets rebounded after the last few days of fallout. Corn traded 4 cents stronger to $6.58/bu. Soybeans jumped 25 cents while meal traded $3/ton higher. The wheat market ranged from 9 to 18 higher.
