After last week’s major fall in cheese prices, cheddar blocks and barrels performed much better on Monday. Blocks increased 15.5 cents/lb as two loads moved from seller to buyer. Blocks settled at $1.99/lb. Barrel cheese regained 9 cents/lb to a price of $1.67, two loads were moved. Butter fell 4 cents at $2.2825/lb. Dry whey was up a quarter cent while Grade A nonfat dry milk declined a quarter cent to $1.1725/lb.
Class III milk futures responded well to the bump in cheese. February added 43 cents/cwt to $18.67. March was up 29 cents to $18.28/cwt. The second quarter traded 16-26 cents stronger while second half prices ranged from 1-7 cents weaker. Class IV markets were mainly higher with the exception of December 2023.
Grain prices pulled back on Monday as corn dipped 10 cents/bu and soybeans softened 12-16 cents/bu. Soybean meal declined $3-$4/ton. The wheat complex regressed 20-29 cents/bu as well.
