The Grinch Returns to Cheese Markets
The Grinch returned to the cheese markets Thursday as Markets closed early for the Christmas Holiday. After an early week run higher on stimulus bill discussions in Washington, reality came back into the dairy markets.
The CME spot trade saw only cheese trade any volume. Cheddar Blocks traded 2 loads and fell 5 cents to $1.59 3/4/lb, Barrels fell 9 cents with 4 loads trading to $1.46 1/2/lb. Butter held unchanged at 1.52 ½ with no trades.
Grade A Non Fat Dry milk held unchanged at $1.14 ¾, and Dry Whey held unchanged at $0.46 3/4/lb
Class III milk had December gaining 4 cents to 15.71, January gave back 37 to 16.63, and February slid 12 cents lower to 17.68/cwt
Class IV milk was unchanged nearyby – December at 13.42, Jan at 13.95, and February at 14.70/cwt.
The grain complex continues its march higher Corn up 3 ¼ to 4.50 ½, soybeans gained 4 ¾ to 12.63 ¼, and soybean meal slipped 4.40 lower to $416.80/ton.
