December 27, 2018

2019 Milk Markets Show Improvements

 |  By: Know Your Market

The CME spot product market on Thursday was highlighted by the block cheese market and Grade A nonfat dry milk. 


Block cheese jumped three and a quarter cent to $1.37 per lb. while barrel cheese added a quarter cent to $1.28 and a half. Grade A nonfat dry milk was bid one and a half cents higher to 94 cents per lb. on five uncovered bids and eight offers. Both butter and dry whey were unchanged. Butter ended at $2.22 per lb. while whey closed at 49 cents per lb. 


Markets added 2-5 cents across the 2019 milk market. The first half of the year settled at $15.12 cents per cwt. while the full year is offering $15.80. Class IV markets fell three cents in January and eight in both February and March. 


Grain markets had corn a penny higher, beans a penny softer and wheat even on the day. Cattle traded $1.50 per cwt. higher in the fats and slightly higher in the feeder market. Crude oil lost $1.60 to $44.61 while diesel markets fell five cents per gal.