Barrel Price Lowest In More Than a Year
Block cheese was down 1 ½ cents to $1.54 ½ with barrels following suit down a 1 ¾ cents to $1.34. With exception given to Tuesday’s settlement, the $1.34 price remains the lowest price in the barrel trade since May of 2016. After an ongoing back and forth trade in butter, prices remained unchanged on Thursday as markets settled at $2.58 ½.
Grade A nonfat dry milk also traded 1 ¾ cents lower finishing at a price of 84 ¼ cents, the lowest price that has traded since mid-April.
In the Class III markets, prices remained higher through October with most contracts up approximately a nickel. November and the contracts thereafter traded lower about a nickel. The average price from now until the end of the year ended at $16.78, up 2 cents per cwt.
Class IV markets, on the quiet butter trade, traded down approximately 20 cents on nearby contracts with the average price from now through December finishing at $16.70, down 18 cents per cwt.