Spot product markets were mainly unchanged to start the week on Monday. Block cheese rose 5.5 cents to $1.50/lb as five loads traded hands. Barrels settled at $1.4675/lb, unchanged on the day. Butter, nonfat dry milk, and whey all closed unchanged. Butter ended at $2.545/lb, nonfat dry milk at $1.175/lb, and whey $0.4275/lb, respectively.
CME Class III markets were mainly unchanged on Monday. Months in 2024 ranged from 10 cents stronger in February to 4 cents lower in certain months. Class IV markets closed in similar fashion ranging from 3 cents lower to 3 higher.
Grain markets saw corn trade a half cent higher across the board. Soybeans rallied around a dime. Meal battled back from a lower early trade to close a half dollar/ton lower. Wheat ranged from 2 cents lower to 3 higher.
