May 3, 2018

Butter Doubles Weekly Volume

 |  By: Know Your Market

In a single day butter doubled its weekly volume. 24 loads moved from sellers buyers as prices rose 1/2 cent to finish at $2.35 1/4. Grade A nonfat was the only other product to have a trade, it finished 1 3/4 cents higher after three loads traded hands. It finished at 83 1/4 cents. Dried whey moved 1/4 cent higher on bids only to finish at 31 3/4 cents per pound. Block and barrel cheddar cheese were both unchanged. Neither of them traded alone so blocks again finished at $1.66 1/2 and barrels finished at $1.60 1/4.

The absence of any presence in the cheese market caused the Class III market to drift lower, finishing at $16.09. Its average from now through the end of the year is down 9 cents from Wednesday. Class IV remains quiet, finishing unchanged for that period at $15.63.

Among today's reports the USDA released their March dairy products report. Total cheese production came in at 1.1 billion pounds. That's 2.7% greater than March of last year and 11.6% greater than February. Whey production came in at 88 million pounds, up 1 1/2% from last March and down 1.8% from the month of February. Nonfat dry milk production rose 12% from last March and 14.2% from February of this year, 180 million pounds was produced. Butter production rose 4.8% from last March to a total of 185.5 million pounds.