Spot Market Summary – January 27, 2026

Block Cheese: $1.4050, down $0.0400, 2 lots traded
Barrel Cheese: $1.4650, unchanged, 0 lots traded
Butter: $1.5950, down $0.0050, 6 lots traded
NDM: $1.3600, up $0.0300, 2 lots traded
Whey: $0.7400, unchanged, 0 lots traded

Implied Class III (New FMMO Formula): $14.91, down $0.41
Implied Class IV (New FMMO Formula): $15.75, up $0.25

Class III (February): $15.57, down $0.46
Class IV (February): $15.48, unchanged
Corn (March): $4.2700, down $0.0125
Soybeans (March): $10.6750, up $0.0575
Soybean Meal (March): $293.80, down $0.50

* Futures data from approximately 2026-01-27 11:55:17 CT.

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