March 15, 2018

Cheese, Butter, Class III All Take Price Jumps

 |  By: Know Your Market

Follow through strength in both cheese and Class III milk futures was seen on Tuesday. Blocks and barrels each traded four loads. Blocks added a penny and moved to $1.58 1/2 per pound. Barrels doubled that move as it settled at $1.54 1/2. Butter closed unchanged despite two bids and nine offers remaining unfilled. Grade A nonfat dry milk fell 1/4 cent on four trades while dried whey bumped 3/4 cents higher with zero trades taking place. Nonfat dry milk closed at 68 3/4 and whey closed Thursday at 28 3/4 cents per pound.

Class III milk gained three to seven cents per cwt raising the April through December average price to $15.23. 2019 markets had January and March up 2 cents and September a penny stronger as well. Class IV had little change as March and June each closed a penny lower.

In the grain markets corn dropped one and a half cents on new crop to $4.06 1/4. Soybeans added four and three quarters cents on the November contract and settled at $10.33 1/2. Soybean meal had little change, wheat declined 10 and 11 cents in Chicago and Kansas City.