CME Butter Down to $2.67

Spot butter dropped to $2.6700 per pound, 3.5 cents lower, with 20 lots trading.

Fourth quarter butter futures slipped to $2.6351 per pound, shedding $0.0352.

Spot blocks remained at $1.9450 per pound, with zero loads exchanged. Barrels were unchanged at $1.8000 per pound, with no lots changing hands.

Fourth quarter Class III contracts advanced to $18.44 per hundredweight, up 26 cents.

Fourth quarter “all cheese” futures climbed to $1.9293 per pound, gaining $0.0287.

Spot NDM rose to $1.1050 per pound, adding a penny, with three loads trading.

The September NDM contract increased to $1.1218 per pound, $0.0043 higher.

Spot dry whey climbed to $0.2800 per pound, two cents higher, with two lots exchanged.

Fourth quarter dry whey futures settled at $0.3208 per pound, tacking on $0.0063.

The September corn contract eased to $4.7075 per bushel, losing 1.5 cents. September soybean futures jumped to $13.8100 per bushel, gaining $0.1525.

FROM THE TRADING DESK: Dairy markets saw another bid to close out the week today. The spot session was relatively quiet for cheese, but butter had another active trading session, bringing the full-week trading total to 70 loads. Class III futures saw continued high volume in the September/October spread.