Dairy markets were beat up on Monday as cheese was sold off. Barrel cheese declined 4 cents to $2.30/lb as 10 trades took place. Blocks fell 2.25 cents to $2.3475/lb on 2 transactions. Butter closed ¾ of a cent lower with 5 loads moving from seller to buyers. Grade A nonfat dry milk lost a half cent to $1.75/lb. Dry whey dropped a penny on Monday to $0.5950/lb. Global Dairy Trade will take place tomorrow morning and is expected to be down about 5% overall.
Class III milk markets settled 40-50 cents lower although certain months were trading down near a limit of 75 cents near the close. May and June are nearing $24.00/cwt while the second half average is now offering $23.20/cwt. 2023 Class III was also down around 20 cents/cwt. Class IV weakened 20 cents/cwt as well.
Grain markets were softer on Monday as well. Corn lost 10 cents while soybeans suffered a 35-cent break. Meal, on the other hand, dropped just $1/ton. The wheat complex was a mixed bag ranging from 7 cents lower to 3 cents higher.
