markets down
June 5, 2020

Milk Markets Crash on Cheese, Butter Trade Skepticism

 |  By: Know Your Market

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.