Small Spread Between 2017 Market Highs, Lows
As was the case all week, low trading volumes continued on Friday, the last trading day of 2017. Cheddar barrels moved 23 loads in total this week while blocks traded 13 times. Blocks settled at $154 per pound, up 1 ¼ cents on Friday while Barrels were a quarter cent higher to $1.4425. Butter was unchanged to end the year at $2.2075, three trades took place this week. Grade A nonfat dry milk saw 13 transactions the past four days to settle at 67.75 cents.
Class II milk declined2 cents to $15.40 per cwt. First half 2018 closed 4 cents higher to a penny lower. July declined 5 cents and September dropped 7 cents. The full year 218 average closed at $14.80 per cwt. Class IV was unchanged and finished with a 12 month 2018 average of $14.26.
Looking back over the year of 2017, February and November take the prize for highest settlement price at $16.88 per cwt. April finished at $15.22 representing the lowest month of the year. $1.66 per cwt separated the high and the low of the year, the lowest spread between the high and the low since 2005 and a far cry away from the average $3.36 cent range we have seen since 1980.