The CME Spot trade was not so eventful today. Dry whey dropped two cents to $.4305. Spot blocks inched downward a ¼ of a penny to $2.1075 while Barrels remained constant at $1.9200. Nonfat Dry milk gained a cent to $1.3825, and Butter found resistance as it came down a little over a penny to $2.8875.
Q1 Class III Futures gave up 28 cents settling in at $19.62/cwt as Q1 All-cheese futures declined almost 2 cents to $1.9943/lb. December Class III also gave up some money, settling lower at $20.39. January Class IV futures fell to parity with December Class III, down to $20.39.
Grain Markets were positive today. Corn finally saw support, with March futures rising 4 cents to $6.4125. Soybeans saw more big gains, adding 17 cents to the January contract, finishing at $14.72 and the new crop November contract up 12 cents to $13.9875. Soybean Meal followed beans as it tallied up another 13 dollars for December to $462.20/ton. Chicago Wheat climbed 20.5 cents to $7.4950. This gain has resulted in a 36.25 cent carry in the market, from December to July.
Livestock was mixed. December Live cattle settled 37.5 cents higher to $151.925. January Feeder Cattle subtracted 90 cents to $180.900 while Lean hogs added ten cents to $82.375. January Crude oil fell over 2 dollars down to $72.01 as January Diesel dropped almost 14 cents to $2.7805.
