MILK
Class III Milk futures had an uneventful day, settling nearly unchanged. Non-Fat Dry Milk had the most interest in the cash market today although futures stayed relatively quiet. With no new news or reports out today, we will have to wait and see what demand looks like in the coming weeks.
AVERAGE CLASS III PRICES
| 3 Month: | $20.98 |
| 6 Month: | $20.38 |
| 9 Month: | $20.03 |
| 12 Month: | $19.88 |
CHEESE
The spot market for cheese brought some interest in blocks and settled down slightly whereas Barrels did close higher but difficult to say that with confidence given no loads traded and no bids or offers left on the table. There was no real direction in futures as cheese settled virtually unchanged.
BUTTER
Butter appeared to have the most action today and while the gains were modest, it was the only dairy market that showed any real direction, closing anywhere from 1.7 to 3.4 cents higher on the day. Underlying cash was up 1.5 cents however only one load actually traded. Retail demand is suspected to be the cause of any short-term gains here.
OUTSIDE MARKETS SUMMARY
December corn closed up 3 cents per bushel at $4.1375, November soybeans closed down 8.75 cents at $9.6525 with first notice day coming up on Thursday and December soybean meal closed down $3.00 per ton at $301.80. December Chicago wheat closed 11.25 cents higher at $5.7050. December live cattle closed down $1.325 at $187.950. December crude oil is up 11 cents per barrel at $67.49. The Dow Jones Industrial Average is down 154 points at 42,233 with the NASDAQ is up 145 points at 18,712.
