Dairy products were steady to higher Thursday in the CME spot dairy product auction. Block cheese gained 3.25 cents to $2.01/lb. Barrel cheese rose half a penny to $1.9750/lb. Whey remained unchanged at $0.4525/lb. Butter rebounded 5.75 cents to $2.6675/lb. Nonfat milk added a penny to $1.38/lb.
Class III milk futures rallied significantly. December class III milk rallied 84 cents to $19.90/cwt. January milk climbed 65 cents to $19.55/cwt. Class IV milk futures also found support with December increasing 53 cents to $20.90/cwt.
Grain futures were weaker Thursday. December corn gave up 8.25 cents to $6.7925/bu. November soybeans dropped 13.25 cents to $14.2675/bu. December crude oil fell $10.20 to $414.30/ton.
