In the Spot Dairy Trade, blocks decreased 2.25 cents to $1.9250/lb. Barrels fell 1 penny to $1.6450/lb. Butter dropped 1 penny as well to $2.09/lb. Whey held firm at $0.7125/lb and Nonfat tacked on ¼ of a penny to $1.6650/lb.
Class III milk futures were mixed. January milk declined 21 cents to $19.59/cwt. February added 1 penny to $19.95/cwt. Q4 2022 milk futures saw the biggest positive change, gaining 6-18 cents/cwt. Class IV was lower in the near term and saw mixed results further out across the curve.
The grain complex saw both green and red today. March corn lifted 5.50 cents to $5.9125/bushel. January soybeans advanced 14.75 cents to $12.7725/bushel. March soybean meal receded 30 cents to $368.70/ton. The three classes of wheat were 14-18 cents higher on the day.
The live cattle market rebounded from the lows set earlier in the day to slightly positive. February live cattle gained 47 cents to $137.05/cwt. January feeder cattle lost 85 cents to $162.57/cwt. February rallied $1.02 to $80.35/cwt. January crude oil rallied $1 to $71.87/barrel.
