2019 Milk Futures Move Higher
The CME spot trade logged yet again another positive performance. Barrels rising ¾ cents to $1.48 and ¾ cents. The price of barrels have now risen 19 and ¾ cents from Monday's finish. Block cheese remained unchanged to finish once more at $1.51. Two loads did trade on Thursday, however.
Grade A nonfat dry milk rose 1 and ¼ cents on the same volume to finish at 81 and ¾ cents. Dry whey was up ¼ cents to finish at 41 ¼ cents. It did not trade. Butter was the shining star. Ten loads moved from seller to buyer, moving 4 and ½ cents higher to recover some of Tuesday's losses. It finishes at $2.27 per lb.
Despite the positive trade of cash product, Class III markets moved in the opposite direction. The final average price for the period of August through December finished at $15.73, down 9 cents from Wednesday’s finish. The 2019 average slipped 2 cents to $16.03. Class IV markets continued their upward stride on the heels of a stronger butter trade. The average price from now through the end of the year is $14.92, up a penny. However, the strongest performance took place in the 2019 calendar with the first half of the year rising 6 cents to $15.61.