Spot blocks dropped to $1.4700 per pound, three cents lower, with two lots trading. Barrels declined to $1.4400 per pound, shedding $0.0275, with one load exchanged. The February Class III contract decreased to $15.65 per hundredweight, down six cents. February Cheese futures eased to $1.5820 per pound, giving up a penny. The February dry whey contract dipped to $0.4250 per pound, giving up a half-cent.
Class IV products also gave up some ground today. Spot butter dipped to $2.5650 per pound, losing 1.5 cents, with 17 lots changing hands. Spot NDM slipped to $1.1825 per pound, giving up $0.0125, with three loads trading. Second quarter NDM futures settled at $1.2308 per pound, $0.0240 lower.
March corn futures rose to $4.4400 per bushel, gaining $0.0175. The March soybean contract advanced to $12.1350 per bushel, $0.0775 higher. March Soybean Meal settled at $361.30, up a couple of dollars. The US Dollar has gained strength, trading up above 103 points recently while Crude Oil traded above $74/barrel for the first time since the end of December.
