August 3, 2017

Cheese Continues Roller Coaster Ride

 |  By: Know Your Market

In what has become a very volatile cheddar barrel market in the last week and a half, Thursday’s trade proved to be no different. Barrels traded 10 loads and finished 5 cents lower at $1.54 per pound and a half cent lower than where we started the week. Blocks traded one load and dropped a penny to $1.73 per pound.

The butter market continued its active trade as well and moved 15 loads while gaining 2 ¾ cents at $2.73 3/4 . It now represents the highest butter trade we have seen since December 2015.

Nonfat dry milk finished at 86 ¼ cents, down ¼ cent from Wednesday.

Class III milk futures softened again with the lower cheese trade. August dropped 6 cents to $16.43 while September and October were down 17 and 18 cents and November and December closed 10 cents lower. Trade in 2018 picked up this past week, and first half 2018 closed unchanged to 4 cents lower. Class IV markets saw some strength to the tune of 8 cents higher in October and 4 cents higher in November.