Flurry of Activity In Cheese Market
The barrel cheese market had the most activity on Monday as 10 loads moved from seller to buyer and the market gained 1/4 cent per pound. Barrels closed at $1.57 3/4, blocks lost 1 1/2 cents following a single trade to close at $1.64 1/2. Dried whey added 3/4 cents to 35 1/4 cents with six trades, five bids and two offers taking place. Butter and Grade A nonfat dry milk were unchanged. Butter ended at $2.27 and nonfat dry milk was at 98 and 3/4 cents per pound, respectively.
Class III milk markets were slightly lower Monday. April gained a penny to $15.86 per cwt while May through December fell 1 to 6 cents. The second quarter 2019 average now stands at $15.79 and the second half is offering $16.39 per cwt. Class IV milk saw little to no change.
Grain markets were mainly lower ahead of Tuesday's USDA supply and demand report. Corn prices dropped 2 1/2 cents at $3.60 per bushel. Beans weakened 1/2 cents at $9.32 1/4 on new crop while bean meal added $1 per ton. Wheat fell 2 1/2 in Chicago, added a penny in Kansas City and was mixed in Minneapolis.