It was a rough day for dairy markets. Q1 Class III markets plummeted to $19.29, giving up 33 cents on the day. CME spot blocks tumbled 3 ¾ cents as barrels rose 3 cents. Spot Dry whey came down a half of a penny to $0.4375. Class IV did not fare well either. Q1 Futures averaged $19.90, falling 25 cents in total. Butter directed this fall in Class IV as it was shot down 20 and ¼ cents to $2.6850, the lowest price since early May. Nonfat Dry Milk slid down to $1.3800.
Grain markets were rather quiet except for the front month in Soybeans. The January Contract tacked on 14.25 cents to $14.8625. Corn traded sideways gaining only a little over a penny in March bringing it to $6.4225. July Wheat tallied over a 3-cent loss to $7.4625. Soybean Meal and Oil both had green days. January Meal gained $7.40, settling at $466.40 while Soy oil finally found some support as the January contract came up to 61.31 cents/pound.
December Live Cattle finished 50 cents better than yesterday, bringing it to $152.425. January Feeder Cattle jumped $2.575 to $183.475. February Lean Hogs were not as lucky as they fell nearly 2 dollars to $84.70. Nearby Crude Oil inched lower by a quarter to $71.79 as the Q1 US Dollar also creeped lower by a similar amount to 104.445.
