Prices were steady to lower in the CME spot dairy auction. Block cheese fell half a penny to $2.0250/lb. Barrel cheese held steady at $1.9850/lb. Butter plunged 7 cents to $2.80/lb. Nonfat milk remained at $1.3850/lb. Whey dropped 1 penny to $0.4350/lb.
Despite spot cheese moving lower, class III milk futures rallied. December milk increased 41 cents to $20.88/cwt. January milk also tacked on 41 cents to $20.14. The rest of 2023 class III milk futures rallied as well. Class IV milk futures were slightly lower.
Grain futures were a mixed bag. December corn eased 8.25 cents to $6.6750/bu. November soybeans gained 4 cents to $14.44/bushel. December soybean meal added 30 cents to $419.30/ton. December Chicago Wheat gave up 15.25 cents to $8.78/bu.
The livestock sector also varied. December live cattle was unchanged at $153.05/cwt. January feeder cattle lost 2 cents to $179.90/cwt. December lean hogs decreased $1.47 to $85.57/cwt. December crude oil declined $2.68 to $89.11/barrel.
