Class III Milk Slowly Slides Lower
Tuesday brings the pardoning of the Thanksgiving Turkey at the White House and a DOW Jones rally breaking 30,000 for the first time. Dairy markets quietly slid lower after a mixed CME spot trade.
Butter fell ¾ of a cent to $1.31/lb. on 3 trades, Cheddar blocks gained 2 cents to $1.68/lb. finding a new home for 1 load, Barrels moved 10 loads and held unchanged at $1.40/lb., widening the Block/barrel spread back to 28 cents.
Grade A Non-Fat dry milk gained half a penny on 11 trades to $1.08 ¾, with dry whey falling ¾ of a cent to $0.43/lb. on 1 load trading.
Class III milk slowly slid lower. November held unchanged at $23.14, December fell 3 to $15.63, and January fell 13 to $16.30/cwt.
Class IV milk saw very little action. November – January held unchanged. November at 1$3.34, December at $13.23, and January at $13.60/cwt.
The grain complex saw strong moves lower on overnight trading to claw back as the day progressed. Corn finished down ¾ of a cent to $4.25 ¾, Soybeans fell a quarter of a cent to $11.91 ½, and soybean meal gained $3.40 to $398.30/ton.
