Products across the board were neutral to modestly higher Tuesday in the CME Cash Dairy Product Trade. Butter increased 1 to $1.5350/lb on 18 trades. Blocks rose 4.75 cents to $1.6425/lb. Barrels added 1.50 cents to $1.42/lb on 11 trades. Grade A Nonfat Milk again remains at $1.15/lb. Dry Whey crept ¼ of a penny higher to $.4650/lb.
December was one of the 2 months to see green in Class III futures. December ascended 18 cents to $15.57/cwt. January milk fell 6 cents to $16.09/cwt. February inched 3 cents lower to $16.80/cwt. March- December was 2 cents higher to 21 lower.
The grain complex traded weaker with January soybeans taking a 12.75 cent nosedive to $11.4575/bushel. December corn pulled back 2.50 cents to $4.17/bushel. December soybean meal retreated $4.80 to $381.70/ton. December Chicago Wheat lost 7.50 cents to $5.6375/bushel.
Cattle and hogs were a mixed bag. December live cattle gave up 15 cents to $107.87/cwt. January feeder cattle were down 22 cents to $137.57/cwt. February hogs climbed 65 cents to $65.60/cwt. January crude oil declined 28 cents to $45.48/barrel.
