September 11, 2019

Cheddar Continues Upward Charge

 |  By: Know Your Market

Holiday buying continues to spur markets higher. Cheddar blocks continue to surge to values we have not seen since 2014 gaining 4 cents Wednesday to $2.09 ¼, with only one load moving and two bids left. Cheddar barrels were unchanged at $1.82 with five loads trading. Our cheddar average is at $1.95 1/2 / lb. 

Butter also saw a nice bounce back, gaining 3 ½ cents to $2.23 ½ with 15 loads moving from seller to buyer with three bids and no offers. Grade A nonfat Dry milk also gained half a cent to $1.04 ¼ with 2 loads moving. Dry Whey rounded out the product trade moving higher, gaining 1 cent to $0.39/lb on ine load moving, one bid, and one offer.

Class III milk saw its third day of gains this week. September gained 9 to $18.29, October gained 25 cents to $18.41, and November gained 22 to $17.89. 2020 markets also saw a move higher. Jan – March was up 6-12 cents and the average is at $16.43/cwt. 

Class IV milk followed butter gaining 7 cents in Sept to $16.27, Oct up 10 to $16.43 and November gained 16 cents to $16.52/cwt. 

Grain and feed prices were down slightly Wednesday. December corn fell 1 ½ cents to $3.60, November soybeans fell 5 ½ to $8.66 ½ and September soybean meal fell $3.30 to $289.60/ton.