Milk Markets Inch Lower
Milk markets finished lower on Monday. April and May were each down approximately 15₵, however that doesn’t tell the whole story. As the CME spot trade took place April and May markets were approximately 30₵ lower and then climbed from there to their 15₵ lower finish.
The balance of the year was down 5₵-10₵ in Class III leaving the second quarter average at $15.71 per CWT with the second half averaging $16.67 per CWT. The class IV market saw a sporadic trade with the months of April, June and September being the only ones to trade, each of them down about 10₵. The average price for Class IV for the balance of the year is $15.18 per CWT.
Looking back toward the CME spot trade, block cheese markets dropped another 1.75₵ to a final price of $1.3675 per pound. This is the lowest price that’s been posted since June 1, 2016. Barrel markets remained unchanged, no trades took place so a posted price of $1.40 per pound finishes the day. Grade A nonfat dry milk was down 1/4₵ on two trades and finished at 80.5₵ per pound. The final price of butter was $2.1625. That was also unchanged from Friday, and again no trades were posted.
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