Cheese markets struggled on Monday as cheddar blocks and barrels fell 2.5 and 2.25 cents/lb on the spot market, respectively. Cash settled cheese futures followed suit as 3.5 to 6 cents/lb dropped out of its market from September through December 2022. Butter closed unchanged with no trades, bids, or offers showing up. Grade A nonfat dry milk added a penny to $1.57/lb. Dry whey climbed 1.5 cents higher to $0.485/lb on unfilled bids.
Class III markets declined 32-45 cents/cwt September through December 2022. 2023 markets were virtually flat to slightly lower in the first half of 2023. Class IV turned in a mixed bag of results as September 2022 gained 15 cents, October lost 20, and Nov/Dec were unchanged. 2023 was also all over the place amongst monthly settlements.
Grain markets had corn settled 18 cents stronger in December 2022 at $6.83. November beans suffered a 23 cent loss and a settlement of $14.3775/bu. Meal weakened around $1-$2/ton. Wheat added 23-35 cents/bu.
