Milk Markets Crash on Cheese, Butter Trade Skepticism
The cheese market closed off this week’s trade modestly after ripping higher over the last month. Block cheese continued its higher trade with prices rising 2 ¾ cents to a settlement of $2.55 ¼ per lb. Barrel cheese began its sessions with offers and closed a penny softer at $2.36 per lb. following 3 loads moving from seller to buyer. Butter traded 9 times Friday and was whacked 9 cents a day after 20 cents higher to in excess of $2 per lb. Butter settled out this week at $1.92 ½ after 15 loads moved. Grade A nonfat dry milk fell 2 ¼ cents to 97 ¾ cents per lb. Dry whey traded once and a half cent higher to 34 ½.
Class III milk prices fell double digits in many months with the skeptical cheese trade. June through August declined 20-40 cents while September to December was slightly lower. Class IV followed suit after butter’s negative results. July 2020 was limit down and most other months lost double digits.