Spot blocks were unchanged at $1.6000 per pound, with zero lots trading. Barrels dropped to $1.5100 per pound, five cents lower, with four loads exchanged.
US milk production totaled 18.71 billion pounds in October, down 0.5% on the year. Cow numbers reached 9.37 million head, down 6,000 versus September and -42,000 year-over-year.
December and January Class III contracts fell to $16.38 and $16.53 per hundredweight, respectively, each shedding 26 cents.
December “all cheese” futures decreased to $1.6770 per pound, losing $0.0220.
Spot butter advanced to $2.5175 per pound, gaining $0.0275, with two lots changing hands.
The December butter contract slipped to $2.5400 per pound, down 3.5 cents.
Spot NDM remained at $1.1925 per pound, with no loads trading.
First quarter NDM futures climbed to $1.2469 per pound, adding $0.0018.
Spot dry whey dipped to $0.4025 per pound, giving up $0.0075, with zero lots exchanged.
The December dry whey contract decreased to $0.3975 per pound, a penny lower.
December corn futures ticked up to $4.6950 per bushel, 2.5 cents higher. The January soybean contract jumped to $13.6725 per bushel, up 27 cents.
FROM THE TRADING DESK: The cheese market continued to slip, with barrels giving up five cents, widening the block-barrel spread to nine cents. With the continued decline in cheese prices, the US should be able to book some exports as we become more favorable compared to the EU.