December Milk Price Futures Sink Lower
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Spot cheese continued moving lower on Thursday. Block cheese fell 3.75 cents to $1.96/lb. Barrel cheese dropped 5.50 cents to $1.9250/lb. Whey remained intact at $0.43/lb. Butter lost half a penny to $3.1450/lb. Nonfat milk held in place at $1.42/lb.

Class III milk futures were mostly lower following the spot cheese trade. November added 3 cents to $20.50/cwt. December milk tumbled 32 cents to $18.78/cwt. 2023 milk futures were unchanged to lower on the day. Class IV prices experienced mild selling pressure today with January the largest mover, dropping 38 cents.

The grain markets traded fairly rangebound. December corn fell 2.75 cents to $6.8225/bu. November soybeans dropped half a penny to $13.8225/bu. December soybean meal increased $6.90 to $415.40/ton. December Chicago Wheat lost 2 cents to $8.3850/bu.

Livestock futures were softer on the day. December live cattle eased 15 cents to $153.42/cwt. January feeder cattle declined 80 cents to $180.45/cwt. December lean hogs tumbled $3.37 to $85.12/cwt. December crude oil increased 80 cents to $88.71/barrel.

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