February 9, 2018

Cheese And Powder Finish Positive Week

 |  By: Know Your Market

CME spot product markets wrapped up this week's trade on a mostly lower note. Butter led the fall as it lost 4 1/4 cent and closed at $2.02 3/4 per pound. Cheddar blocks declined a penny to settle at $1.51 per pound. Cheddar barrels added a penny on Friday to finish at $1.36. Grade A nonfat dry milk dropped a 1/4 cent to close at 73 1/2 cents per pound.

Results for the week:

  • Butter moved 16 loads at an average price of $2.06 3/4 per pound, down 6 1/4 from the previous week
  • Blocks averaged $1.51 3/4, up 5 1/4 on 9 trades. 
  • Barrels led the trading volume at 29 loads. The barrel price came in at $1.36, up 3 3/4 cents from the prior week. 
  • Grade A nonfat dry milk added 2 3/4 cents over last week's average price and came in at 73 3/4 on 23 trades.

Class III milk futures were higher on Friday. February settled unchanged while the remaining months ranged from 2 cents lower to 9 cents higher. The Class III February to December average price is $14.84 per cwt. Class IV milk markets were 6 to 12 cents lower between February and April while 24 trades from July to December took place. The last trade on the second half hit at $14.74 per cwt.