Milk Prices Move Higher
Another round of higher prices resulted in the Class III milk markets on Monday. First half 2018 prices gained 1-10 cents on a modest volume trading day. The first half of the year closed at $13.95 per cwt. Second half prices finished 4 cents lower to 6 cents higher. The second half of the year closed Monday with a $15.63 per cwt average.
Class IV saw higher markets as well. January and February closed unchanged as did November and December. All other months closed higher. March through June added 7-10 cents and raised the first half average to $13.72 per cwt. July through October was up 1-9 cents to settle with a second half average of $14.76 per cwt.
Cheese carried the product markets higher in the CME spot session. Barrels added 2 cents after 3 loads moved hands. Barrels ended at $1.365 per pound. Blocks grew a half cent in value to $1.57 on 1 trade. Butter closed unchanged at $2.12 per pound after 6 trades. Grade A nonfat dry milk finished unchanged as well at 70 ¾ cents. In a rare spot session, no bids or offers were left hanging in any of the four markets on Monday.