August 17, 2017

Major Movement in Butter Markets

 |  By: Know Your Market

After a monster trading day in butter on Wednesday that saw 34 loads trade hands—the highest daily volume in nearly four years—Thursday’s trade followed up with another 13 loads moving. Butter dropped ¾ of a cent to $2.65 1/2.

Grade A nonfat milk dropped a penny to settle at 83 ¾ cents.

Block cheese was unchanged at $1.73 1/2, while barrels gained 1 ½ cents and ended at $1.68 ½. After today’s trade, the block and barrel spread, which has traded as high as 20 cents in August, now stands at just 5 cents.

Class III milk futures saw little change as August through November traded 3 to 4 cents higher while December was down 2 cents. The average August through December price now sits at $16.92 per cwt. Class IV markets were down 7 cents in August, 10 cents in October and 20 cents in November. June 2018 was also off 24 cents.

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