January 19, 2018

Blocks and Barrels Rebound This Week

 |  By: Know Your Market

After climbing each of the previous days this week, barrels were unable to continue to that momentum on Friday. Barrels fell a half cent, dropping its price to $1.34 1/2. 45 total trades were made this week at an average of $1.32 1/4, up 4 1/4 cents from the prior week. Blocks added 1 1/2 cents and closed at $1.56 1/2. Blocks added 7 cents to its average trade price this week. Butter prices fell again Friday as it did the previous three days. Butter settled at $2.12 per pound. Grade A nonfat dry milk dropped 3/4 cent. 33 trades took place this week raising the average trade price to 70 1/2, up 3 1/2 cents from the previous week. 

Class III milk markets had mixed results on Friday. First quarter 2018 gained 3 to 6 cents, April through July fell 2 to 8 cents and August through December ranged from 10 cents lower to 3 cents higher. The first half of 2018 is offering $13.88 per cwt while the full year is at $14.71. Class IV milk had February 8 cents softer, March up 5 cents, April 4 cents higher and May a penny lower. Class IV first half of 2018 is averaging $13.63 per cwt and the full year is at $14.13 per cwt.