Blocks, Barrels Take a Breather
After many volatile trading sessions in cheese the past week and a half, blocks and barrels took a breather on Thursday. No trades were made in either the block or barrel market, although three bids showed up for blocks and two bids for barrels. In the end, blocks settled at $1.44 1/4 which was 3/4 of a cent higher on the day. Barrels added a 1/4 cent to its price leaving it at $1.40 1/4. Butter closed at $2.18 per pound, down 1 1/2 cents. Grade A nonfat dry milk closed at 66 cents per pound, 1 1/4 cents higher.
Class III milk markets were finally able to print green ink on the screen Thursday. December was unchanged at $15.44 per cwt. The first half of 2018 jumped 5 to 12 cents and closed with an average of $14.10 per cwt. July through October prices climbed 2 to 8 cents while November and December were unchanged. The full year is offering $14.80 per cwt. Class IV milk markets on Thursday saw little action. February 2018 declined 7 cents to $13.15 while July was down 12 cents. The full year for 2018 in Class IV is averaging $14.25 per cwt.