Blocks, Barrels and Class III Move Higher
March began with buyers seeking agricultural commodities across the board. Nearly every commodity traded at the CME and other exchanges rose today as we began the month of March. That included cheese prices.
Block cheese rose 4 1/4 cents to $1.60 1/4, barrels followed suit rising 3 3/4 cents to $1.51 1/4. Butter followed suit rising 1/4 cent, with a final price at $2.20 1/4. Grade A nonfat dry milk took the opposite approach, falling 1 1/4 cents to 65 cents.
With the addition of dried whey to the CME spot trade coming up in just one week, whey futures continued to trade their sideways trend holding an average of just over 26 cents for the period of now through June.
Class III milk futures responded with a rise in prices out through September. The average from now through June rose to $14.35. Class IV markets turned out a bit more of a lackluster performance, with prices falling just a penny in their average from now through June.