Market_Monitor_081423
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Fourth Quarter Class III Down 17 Cents

Fourth quarter Class III futures dropped to $18.12 per hundredweight, shedding 17 cents.

Spot blocks were unchanged at $1.9900 per pound, with zero loads changing hands. Barrels remained at $1.8250 per pound, with no lots exchanged.

The September “all cheese” contract dipped to $1.8900 per pound, losing $0.0180.

Spot butter held steady at $2.6900 per pound, with zero loads trading.

September butter futures decreased to $2.6680 per pound, giving up $0.0030.

Spot NDM was unchanged at $1.1100 per pound, with no lots changing hands.

The September NDM contract advanced to $1.1325 per pound, a half cent higher.

Spot dry whey eased to $0.2675 per pound, $0.0025 lower, with three loads exchanged.

Fourth quarter dry whey futures settled at $0.3238 per pound, down $0.0070.

The September corn contract rose to $4.7575 per bushel, up $0.0125. September soybean futures jumped to $13.5300 per bushel, gaining $0.1575.

FROM THE TRADING DESK: It was a sluggish start to the week, with all spot products remaining unchanged with no trades, apart from dry whey. Futures and options activity followed suit without much trading at all. Not a whole lot has changed in the fundamental landscape versus last week.