May 13, 2018

Blocks Continue To Fall

 |  By: Know Your Market

After falling 3 3/4 cents on Thursday Cheddar blocks fell another 3 1/4 cents on Friday. At the close blocks settled at $1.63 1/4 after four trades. In total eight loads moved on the week. Cheddar barrels dropped 3 cents Friday to $1.62 even on 11 trades. A total of 35 loads traded at an average barrel price of $1.64 1/2, up 6 1/2 cents from the previous week.

The butter market was the most active market once again, 52 trades took place. On Friday butter fell 1/2 cent to $2.33 1/2. Grade A nonfat dry milk was unchanged at 85 cents per pound. Dried whey added 1/4 cent to 32 1/2 cents. Just one load moved on the week.

Class III milk futures began Friday higher but were unable to hold on to those gains. May through July futures range from a penny lower to 3 cents higher. August to December prices fell 1 to 3 cents. With Friday's trading action the second half Class III average closes at $16.44 per cwt. First quarter 2019 rose 2 to 4 cents. Class IV results were sporadic. June fell 2 cents, August 4 cents, September 6 and November was down 3. All other months in 2018 closed unchanged.