Class III Fall Milk Futures See a Boost

Class III milk saw November futures rise 14 cents to $17.50/cwt. 
Class III milk saw November futures rise 14 cents to $17.50/cwt. 
(Canva)

CME spot product markets were fairly quiet to on Monday.  Dry whey and nonfat dry milk both added a half cent to $0.3025/lb and $1.185/lb, respectively.  Cheddar blocks and barrels printed identical unchanged results with just a single bid showing up to the market.  Butter closed a quarter cent lower at $3.50/lb on an unfilled offer.

Class III milk saw November futures rise 14 cents to $17.50/cwt.  December declined 12 cents and settled at $17.69.  First half futures closed mostly unchanged on Monday.  The first half average closed at $18.23/cwt.  Class IV futures settled lower falling 1-16 November through February.

Grain markets were mixed.  Corn dropped 3 cents to a $4.88/bu in the new crop contract.  Soybeans were down 2-5 cents.  Meal prices added $2-$3.5/ton out through May of 2024.  The wheat complex ranged from 4-12 cents stronger.

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