All Focus on Butter and Powder
Activity favored the butter and grade A nonfat market on Monday, whereas barrels and blocks received little attention.
Butter traded 16 loads but dropped 3 cents and finished at a final price of $2.69 per pound. Grade A Nonfat dry milk rose ¼ cent off of 20 bids to settle at 86 ¼ cents.
Block cheese was unchanged at $1.75 ½ after a single trade while barrel cheese traded three loads and dropped a penny after last Friday’s 9 ½ cent run. Monday’s finish of $1.54 ½ now leaves the spread between blocks and barrels at 21 cents.
Whey futures contracts for the balance of 2017 gained ground again on Monday, continuing a run that began last week. August futures now stand at 42 ¾ cents.
In the milk market Class III remained largely higher with the final average price from now through December coming in at $17.11 per cwt. Class IV followed in the same manner with the price final average price for the balance of the year at $17.09.