Dairy markets performed well on the first trading day following Christmas. Barrel cheese led the strength trading four loads and 6 cents stronger to $1.855/lb. Block cheese rallied 3.25 cents/lb as three loads moved from seller to buyer. Whey was bid a penny higher to $0.395/lb. Butter lost 1.5 cents/lb as five transactions took place. Nonfat dry milk was unchanged at $1.33/lb.
Class III milk markets watched Q1 2023 trade in a stronger fashion with good volume, but all other months were quite lackluster. January added 37 cents/cwt to $19.83, February was up 14 cents, and March gained 7 cents. Class IV watched January fall 24 cents while most other months ranged from 5 cents higher to 5 cents lower.
The grain complex saw corn trade firm the entire session and ended 8 cents higher at $6.75/bu. Soybeans turned in a wild day. After trading 35 cents stronger in the early morning, futures ended 3-5 cents higher after turning lower for a period of time given changes made to the weather forecast. Soybean meal lost $3-$4/ton and returned to the $450/ton mark. The wheat complex ranged from a couple cents lower to 4 cents stronger in Kansas City.
