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.
