CME spot dairy auction prices began this week in a mixed fashion. Barrels took back 5.5 cents/lb of the 9 that was lost on Friday with settlement ending up at $2.18/lb. Block cheese ended Monday unchanged at $2.05/lb as zero loads traded. Butter lost three quarters of a cent with settlement at $3.1675/lb. Nonfat dry milk softened a quarter cent to $1.4875, four trades occurred. Whey was unchanged at $0.4425/lb.
Class III milk futures markets regained a very small portion of what was lost from Friday. November and December gained 15 cents each with markets ending at $20.56 and $19.85/cwt, respectively. January through April 2023 ranged from 6-17 cents stronger. Class IV markets were mixed. 2022 and 2023 futures closed anywhere from 14 cents higher in November 2022 to 18 lower in September 2023.
Corn struggled on Monday and closed 6 cents lower to $6.835/bu. Soybeans were also a bit softer as futures in 2023 ranged from even to 7 cents weaker. Meal values dropped $1-$3/ton. The wheat complex ranged from even to 3 cents higher.
