Butter Continues Heavy Trading
Butter markets continue its high volume trading sessions on Wednesday as another 16 loads traded and five bids and offers were left unfilled. Butter fell 1 1/4 cents to $2.34 3/4 cents per pound. Blocks added 1/2 cents to $1.66 1/2 on one trade and six bids. Cheddar barrels moved nine loads but close unchanged at $1.60 1/4 per pound. Grade A nonfat dry milk fell 1/2 cent to 82 cents even. Two trades took place with 18 bids and three offers showing up. Dried whey prices grew by 1/2 cent after two bids to 31 1/2 cents.
Class III milk futures were up slightly on Wednesday. The month of May through August ranged from a penny lower to a penny higher while September until the end of the year was up 4 to 7 cents. The second half of 2018 is now offering producers $16.40 cents per cwt. Class IV milk markets softened in 2018 as May through December prices fell 10 to 29 cents. After the close the second half average dropped to $15.87 per cwt.
April 2018 milk prices were announced by the USDA as Class III settled at $14.47 per cwt and Class IV finished at $13.48 per cwt.