Class III milk markets ended Monday’s trading session in a mixed fashion. March gained 7 cents while April added 8 cents, May was up 9, and June closed unchanged. 2nd half 2023 markets ranged from 3-9 cents softer. Class IV settlements tilted to the negative side as most months closed single digits lower.
CME spot dairy auction values saw strength in cheese and butter but weakness in powder and whey. Butter bounced 4.75 cents higher as two loads were exchanged from seller to buyer. The butter settlement closed at $2.38/lb. Block cheese rose 3 cents to $1.81/lb on three trades. Barrels increased 2.5 cents to $1.795/lb. Another 9 loads moved hands. Nonfat dry milk declined a half cent to $1.17/lb. Whey dropped a quarter cent to $0.44/lb.
The grain complex was a mixed bag Monday. Corn declined 3 cents while the wheat market was up 1-8 cents/bu. Soybeans lost 15 cents while meal suffered a $5/ton loss.
