A Party In The Barrel Market
For a second day in a row we saw a Cheddar Barrel show up to the party. Though price fell, we did see buyers show up and purchase the available load. Cheddar barrels fell 4 ¾ cents to $2.23 1/4. Cheddar blocks however had 2 offers, no bids, and no one trading a load. Blocks fell 1 penny to $1.90/lb. Our block/barrel spread remains inverted with Barrels 33 ¼ cents, narrowing slightly as we move through the week. Our Cheddar average price is at 2.06 1/2/lb.
Butter moved 6 loads Thursday to gain a quarter of a cent to $2.06 ¾ . Dairy Powders were quieter. Grade A Non Fat dry milk was unchanged at $1.21 ¾ with no loads trading 5 bids and 2 offers. Dry Whey gained ¾ of a cent to $0.29 ¾/ lb on 21 bids, no offers, and no loads trading hands.
Class III was more stable with a mixed reaction to the cheese trade. November finished unchanged at 20.19, December fell 9 to 18.70, and 2020 saw Jan – March trade 1-2 higher averaging at 17.35/cwt.
Class IV was unchanged in November at 16.73, gained 5 in December to 16.98 and gained 2 in January to 17.19/cwt. The remainder of 2020 was unchanged.