Dairy markets on Monday put forth a relatively uneventful trade. Class III saw December close a couple of cents higher on the day while first half 2024 ranged from a nickel stronger to a nickel weaker. Second half 2024 prices saw similar settlements as well. Class IV milk was mostly flat across the board on Monday but did see some weakness in the January and February months.
CME spot dairy markets were mostly stronger on Monday. Block cheese and butter both traded 3 times and 2.75 cents stronger. Blocks ended at $1.5475/lb while butter was at $2.6825/lb. Barrel cheese rallied 1.5 cents as two loads traded hands. Settlement came in at $1.535/lb. Whey ended unchanged at $0.40/lb. Nonfat dry milk lost a penny to $1.17/lb.
Grains also weakened for the most part as rain fell in South America over the weekend. Corn was unchanged with March settling around $4.85/bu. Soybeans lost 18 cents while meal dropped $5/ton. The wheat market ranged from 4-15 cents stronger.
