The CME spot dairy auction closed the session in a mixed fashion. Barrel cheese found a bid and rose 4 cents to $1.475/lb following two trades. Block cheese took the opposite route as an offer lowered its price 3.25 cents to $1.6175/lb, no loads traded hands. Butter moved just a quarter cent higher to $1.455/lb but was capped with 15 loads moving from seller to buyer. Dry whey and nonfat dry milk each declined a quarter cent on an offer.
Class III milk turned in mixed results on Friday. January lost a couple cents while February dropped 18 and March finished 7 lower. Beyond first quarter 2021 markets saw very little change ranging from 6 lower to a couple cents higher. Class IV milk had a few months trade with February dropping 20 cents and April was down 5 cents.
The grain markets mainly increased as corn added 5 cents to close at $4.375/bu near resistance. Soybeans finally broke through $12 with January settling out at $12.20/bu. Spot soybean meal also closed through resistance which was the $400/ton. Wheat ranged a half cent lower to 1.5 cents higher.
