Active Trading Week Comes To An End
The CME spot trade, which began the week with excitement, ended the week with a yawn. Butter was unchanged with only two loads trading hands. It finishes again at $2.35 1/4 a pound. Dried whey was also unchanged. It did not trade a load and finishes once more at 31 3/4 cents a pound. Block cheese was also unchanged, it traded zero loads and finishes again at $1.66 1/2.
The two movers were barrels and powder. Barrels dropped 1/4 cent after six loads traded hands. It finished at $1.60. Grade A nonfat dry milk moved the opposite direction, rising 1/2 cent to finish at 84 1/4 after three loads were traded.
The weekly average for each of these products were as follows:
- Butter had an average for the week of $2.35 2/3
- Block cheese averaged $1.65 2/3
- Barrel cheese averaged just under $1.58
- Grade A nonfat dry milk was just over 83 1/2 cents
- Dried whey finished just under 31 1/2 cents a pound
The quiet trade in product rolled over into milk prices. Class III remained unchanged through the course of the year, again finishing at $16.10 for its average from now through December. In the same fashion Class IV milk finished at $15.62 cents in its average.