Milk Prices End Today Mixed, Mostly Lower
Dairy products were mixed in the CME spot dairy product auction. Block cheese fell 2.25 cents to $1.9675/lb. Barrel cheese rose 4.50 cents to $2.2450. The block-barrel spread at -27.75 cents is the largest since December 2019. Whey dropped half a penny to $0.44/lb. Butter slid 2 cents to $3.1450/lb. Nonfat milk was down 1.25 cents to $1.55/lb.
Class III milk futures were mixed on the day. October milk gained 9 cents to $21.94/cwt. November milk eased 20 cents to $20.72/cwt. December milk lost 18 cents to $20.56/cwt. Class IV milk prices were slightly lower on the day.
Grain futures varied on the day. December corn dropped 1 penny to $6.6950/bu. November soybeans added two cents to $14.1075/bu. December soybean meal fell $5.50 to $407.20/ton. December Chicago Wheat decreased 7 cents to $8.9625/bu.
Fat and feeder cattle may have finally found some support after a string of selling pressure. October live cattle gained $1.07 to $144.12/cwt. October feeder cattle rallied $2.32 to $177.32/cwt. December lean hogs were down 10 cents to $75.72/cwt. November crude oil declined 64 cents to $81.51/barrel.
