Blocks, Barrels Average Higher
In Friday’s CME spot dairy session butter lead product with a 1 ¼ cent move higher on four trades a close $2.58 ½ cents. Cheddar blocks declined a ¼ cent to $1.55 ¼ cents on two trades. While barrel market added three quarters of cent on four trades and ended at $1.37 ½ cent.
Grade A nonfat dry milk moved a ½ cent higher on six trades to finish at 86 ¾ cents per pound. On the week butter traded 26 loads at an average price of $2.61 ¼ cent, down two cents from the previous week. Blocks traded seven loads and averaged 2.5 cents better than the previous week. Barrels traded 19 times this week at average price of $1.36 ½ cent, up a ½ cent over last week.
Grade A nonfat dry milk closed the week at an average price of 85 ½ cents on 22 loads traded. Class III milk markets softened 9 to 19 cents in 2017 on Friday. They closed the week with a second half average of $16.62 per cwt. 2018 prices were lower in the months that traded. Class IV markets did not see any action.