Red Dominates Tuesday's Markets
Red dominated Tuesday’s Markets. Class III milk gives back some of its recent gains though Spot cheese was uneventful. The CME stop trade saw Cheddar Blocks stay unchanged at 2.77 ¼ with no bids, offers, or trades. Cheddar Barrels fell a quarter of a cent to 2.45 ¼ on 1 offer, but failed to trade a load or entice a bid. Butter however fell 3 ¼ cents to $1.40 3/4/lb. Touching back at our lowest price on butter since May.
Non Fat Dry Milk also struggled, falling 1 ½ cents to 1.07 ¾ but had 6 loads trade and 5 bids left. Dry whey was our one product to show a gain, moving ½ cent higher to $0.39 1/2/lb with no trades and 5 bids.
Class III Milk saw October fall a penny to 21.62, Nov fell 39 to 22.37, and December fell 76 cents to 20.23/cwt.
Class IV also dropped. October was unchanged at 13.52, November fell 24 cents to 13.48, and December fell 20 to 13.51/cwt.
Grain complex finished the day also trading red. Corn fell 1 ¾ cents to 4.16 ½, Soybeans fell 5 ½ cents to 10.82 ¼, Chicago Wheat gave back 4 ¼ cents to 6.15 ¾, and Soybean meal fell $5.60 to $384/ton.