Barrels, Blocks Make Positive Jump
There was no shortage of movement on the CME spot trade on Friday, where barrels rose 7 cents to finish at $1.60. That fell just a 1 1/4 cents short of blocks, which came to a close at $1.61 1/4, 2 cents higher than Thursday.
Butter went the opposite direction, dropping 2 1/2 cents to $2.44 3/4 and grade A nonfat dry milk rose 1/4 of a cent to close at 82 1/4 cents.
Looking at the week's averages:
- Butter - $2.46 1/2
- Blocks - $1.59.9
- Barrels - $1.51.4
- Grade A nonfat dry milk - 82.5 cents
Despite the liveliness of the spot trade, the milk market yawned through a good part of the day until the last few minutes. In the end, the average price from now through December rose to $16.20, up 16 cents per cwt. Class IV broke the opposite direction, finishing at $15.89, down 2 cents on its average from Thursday's settlement.