Softness in the block cheese market put a damper on early strength in Class III on Friday. Blocks sold off 4.25 cents/lb as a single load was moved from seller to buyer. Blocks closed at $1.95/lb. Barrel cheese added a penny as two loads were transacted. The barrel market closed at $1.87/lb. Butter traded 12 times and a penny and a half higher to $2.66/lb. Non-fat dry milk was up a quarter cent to $1.075/lb. Whey ended unchanged at $0.305/lb.
Class III prices sank 28 cents in the September contract following the cheese trade. October lost 18 cents while November was down 19 and December 21 cents. The Q4 2023 average settled at $18.65/cwt. 2024 ranged from 7 cents lower to a nickel higher. Class IV markets were mostly unchanged with a couple of months slightly stronger.
Grain markets saw corn rally 3 cents to a new crop December 2023 settlement price of $4.815/bu. November soybeans gained a half cent to close at $13.6925/bu. Wheat saw all three complexes range from 5-7 cents lower.
