Monday’s dairy complex trade revealed similar action as many weeks before. August Class III milk lost 7 cents with a settlement price of $19.95/cwt. September added a dime to its price and ended at $19.40/cwt. Q4 2022 and beyond lost anywhere from 1-19 cents/cwt out through June 2023. Class IV lost significantly more value on Monday as September was off 77 cents, October lost 57, November declined 79 cents, and December lost 40. 2023 struggled in Class IV as well.
Spot CME product markets watched butter drop 3.5 cents/lb to $2.9750/lb. Nonfat dry milk fell 2 cents to $1.4825/lb. Dry whey was unchanged at $0.435. Barrels added a quarter cent on a single load trading. Blocks were unchanged at $1.785/lb.
Corn dropped 3 cents on Monday to $6.07/bu. Soybeans lost 7-8 cents while meal values lost $4-$6/ton in the October 2022 and beyond months. The wheat complex ranged from 6 cents lower to 5 cents higher.
