In the CME Cash Dairy Product Trade, blocks dropped 1.75 cents to $1.5750/lb. Barrels fell 1 cent $1.39/lb on 15 trades. Butter melted 1.25 cents to $1.2675/lb. Grade A Nonfat Milk gained ¾ of a penny to $1.1725/lb. Dry Whey added 2 cents to $.53/lb.
Class III futures traded quietly for the second day in a row. January milk lost 2 cents to $16.12/cwt. February climbed 4 cents to $15.56/cwt. March milk was up 3 cents to $16.64/cwt. April through December gained 3-14 cents. Class IV milk traded down 1 to plus 14 cents.
The grain markets traded violent ranges once again. March corn gained ½ of a penny to $5.3450 after breeching $5.50 earlier in the day. March soybeans declined 21.50 cents to $13.5325/bushel. March soybean meal gave up $9.50 to $427.10/ton. March Chicago Wheat receded 11.25 cents to $6.47/bushel.
Cattle and lean hogs were lower. February live cattle fell 45 cents to $116.00/cwt. March feeders lost 27 cents to $139.80/cwt. February lean hogs decreased 62 cents to $69.95/cwt. March crude oil traded 57 cents lower to $52.28/barrel.
