A Jumpy, Bumpy Ride For Markets
The CME spot product market started off the week mixed as all 5 products offered traded. Butter fell 2 ½ cents taking away last weeks gains finishing at $2.27 even. Blocks continue to move higher and rose 3 ¼ cents settling at $1.56 cents even. Barrels climb higher after last week’s 8 cent jump and finished on Monday up 3 cents to $1.40 ¼ cents/lb. Grade A nonfat Dry milk is making its way back to the $1 level and rose ¼ of a cent to finish at 99 ¾ cents. Lastly, trading 7 times during the session, dry whey fell 1 cent to 35 1/2 cents.
Class 3 markets were mixed on Monday trading anywhere from 8 cents lower to 12 cents higher. February rose 1 cent to $13.99, March was up 12 cents to $14.71 and April lost 6 cents to $14.74. The first and half average are now at $14.67 and $16.22.
Class 4 markets were not all that exciting on Monday as all but 2 months were unchanged. For the front month, February was unchanged at $15.93 while March and July were both up 1 cent and finished at $16.01 and $16.56.