Markets Take One On The Chin After Holiday Weekend
The CME product market was mixed on Monday. Butter fell 5 cents to $2.23 per pound. Blocks rose 1/2 cent to $1.35 per pound. Barrels were unchanged on the day at $1.24 per pound. Grade A nonfat dry milk rose 3/4 of a cent to 19 1/2 cents per pound. Dried whey fell 1/2 percent to 42 cents per pound.
The Class III markets were not as friendly on Monday as November was unchanged at $14.48 and December fell 23 cents to $14.09. 2019 Class III markets were down as well with losses anywhere from 2 to 24 cents from January to August. Most activity occurred in the first quarter leaving the first quarter average at $14.55.
2018 Class IV markets didn't see much action as November was unchanged at $15.07 and December fell 2 cents to $14.48.
The grain markets also saw losses on Monday. January soybeans fell 18 3/4 cents to $8.62 1/4 and corn was also down 3 cents in December to $3.58.