Class III milk markets put forth a very exciting day on Monday. Futures values ended up rallying 40 cents in the February contract while March and April were up 50+ cents. May and June also put together respectable results as May added 37 cents and June 14. 2nd half futures took the opposite route falling 1-8 cents/cwt. Class IV markets ranged from even in December to 17 stronger in September 2024.
CME spot product markets saw prices rise across the board. Barrels and blocks led the charge. Barrels rallied 8 cents to $1.55/lb as six loads moved from seller to buyer. Blocks built up a 7.25 cent gain on Monday to $1.61/lb with 5 trades exchanging hands. Butter prices grew 4.25 cents to $2.8025. Nonfat added a half a cent. Whey was up three-quarters of a cent.
Grain markets saw corn lose a nickel in the nearby months. Soybeans were down 4-11 cents. Meal added $2/ton. Wheat declined 1-8 cents/bu.
