trading up
April 24, 2018

Another Day, Another Price Jump

 |  By: Know Your Market

Another day and another milk trade that resulted in higher values took place on Tuesday. Class III milk was unchanged in the month of April at $14.50 per cwt. May through December 2018 contracts gained 1 to 6 cents with June and July leading the way. Second quarter settled at $15.07 cents per cwt while the second half rose to $16.33. First quarter of 2019 also joined in on the party as it jumped 8 to 9 cents. First quarter 2019 now stands at $15.93 per cwt.

Class IV milk markets took the opposite route. April fell 8 cents, June a Penny and November through December was down one to three cents. July dropped 15 cents while August declined 20. The Class IV second quarter average is offering $14.50, while the second half is at $15.96 cents per cwt.

CME spot product markets watched butter continue its tear in the month of April, leaping 5 1/2 cents to $2.37 1/2 on 23 loads moving hands. Butter is now up 16 cents for the month. Dried whey closed unchanged at 31 1/2 cents. Grade A nonfat dry milk traded 13 times, saw 19 bids and six offers as it fell 1 1/4 cent to 82 cents even. Both blocks and barrels fell a 1/4 cent. Blocks traded once to $1.62 3/4 and barrels moved eight loads to settle at $1.48 3/4 cents per pound.