All CME Products Offer Positive Market Results
All products in the CME spot trade closed the week with positive results. Barrels led the charge on the day and on the week they were the volume leader. On Friday, they were also the price leader. Barrels rose 2 and a half cents to finish at $1.60 with six loads moving from seller to a buyer. Blocks followed suit rising 2 cents to $1.67, while butter rose a penny in a quarter to finish it to $2.26 pound on a single load. Grade A nonfat dry milk was also higher rising three quarters of a cent to finish at 87 cents.
Every session of this week’s spot trade registered values that were higher than the spring high of 86 cents. And this comes on the heels of a softer global dairy trade at the start of the week.
Dry whey continued its string of record closes. It rose a penny after two trades to finish at 48 cents a pound. Average prices for the week stood as follows butter to 25. five blocks $1.63 and three quarter cents. Barrels $1.59,.Grade A nonfat dry milk. 87 cents and the average for dry whey for the week finished just under 46 cents a pound.
The positive tone in product spilled over into the Class III market were prices finished 7 cents higher in the average price for now through December to move back above $16 and finish at $16.02 the 2019 average rose a penny to $16.17 cents. Class IV markets were slightly softer with the average for 2019 dropping to $16.03, down 3 cents from Thursday's finish.