Milk Prices Moved Higher Last Week
On Friday the CME spot trade put in its 2 cents worth, or 3 cents as it was. Butter rose 3.25 cents to $2.6825 per pound, after a single load traded hands. Blocks rose 3.75 cents to $1.7425 per pound, no trades were tendered. Barrels rose 3.25 cents to $1.5875 per pound after 6 loads traded hands. Grade A nonfat dry milk settled unchanged at 85 cents per pound, no trades took place. 85 cents also represents its weekly average price. The market settled there each and every day this past week.
Cheddar barrels, on the other hand, had an average price for the week of $1.555 per pound. Block cheese had an average for the week of $1.693 per pound, and butter had an average price for the week of $2.668 per pound.
On the heels of a stronger cheese trade, the Class III market rose 20+ cents in the September through December period. The average from now to the end of the year now stands at $17.01 per cwt, 20 cents higher than where it finished on Thursday. The Class IV market, as usual, saw very little trade and finished a penny higher than its average at a final price of $16.75 per cwt.