Despite a stronger cheese session to kick off the week on Monday, Class III milk prices fell. Block cheese rose 4.25 cents to a value of $1.6275/lb with 1 load trading hands and two uncovered bids. Barrels traded 5 loads and 1.5 cents stronger to a value of $1.4175/lb. Butter lost 4 cents with the settlement coming in at $1.655/lb. Grade A nonfat dry milk added a quarter cent to $1.255/lb while dry whey lost ¾ of a cent to $0.53/lb.
Class III milk results watched August trade 10 cents in the green while September fell 13, October 25, November 16, and December and beyond off single digits. Class IV markets were beat up on Monday following the butter markets falloff. 2021 months lost 14 cents in August, 27 cents in September, 29 cents in October, 29 in November, and 25 cents in December. Early 2022 Class IV prices declined 14-24 cents.
The grain complex began the Sunday night session weaker in corn and soybeans but by Monday’s close we were in the green. Corn added 3-4 cents while soybeans were up 6-9 cents/bu. The wheat complex lost 3-7 cents/bu.
