October 27, 2017

Cheese and Powder Get a Bump

 |  By: Know Your Market

Block cheese at the CME spot trade moved a 1/2 cent all week until today. Prices of block cheese rose 2 3/4 cents on Friday's trade, finishing at $1.74 1/2. The average price through the week finished at $1.72. Barrels rose 1/4 cent to $1.70 1/2 and at the end of the week its average was $1.69 1/2. Grade A nonfat dry milk also moved higher, rising 1/2 cent to 75 cents. Its weeks average was 74.85 cents.

The only product to go lower on Friday was butter, finishing down 3/4 of a cent to finish at $2.30 1/4, with an average for the week just over $2.29. Butter had the greatest volume of the week trading 44 loads. 

Milk prices did very little with the mostly positive product trade. Class III got the greatest support, rising two cents for its average for the first six months of 2018 finishing at $15.48. Class IV markets saw little trades, and nearby prices dropped single digits on average. The first half of 2018 finished unchanged at $14.63.