October 30, 2020

Cheese Jumps A Bit Higher

 |  By: Know Your Market

Cheese finishes the week with a jump higher. The CME spot trade saw Blocks and barrels both gain with loads moving. Blocks up 1 cent to $2.78 ¼ with 2 loads trading, barrels gained 6 cents to 2.53 with 3 loads moving from seller to buyer and 1 bid left sitting. Our block/ barrel spread sits at 25 cents, slowly narrowing all week.

Butter still can’t push back above $1.50, giving back 4 cents to $1.39 with 2 loads trading hands. Grade A Non Fat Dry Milk gained a penny to $1.10 ¾ with 3 trades, 7 bids and 3 offers. Dry Whey was unchanged at $0.40 even with no loads trading. 

Class III milk was mixed with November leading a charge higher. October closes the month unchanged at 21.59, November moved 62 cents higher to 23.90, December gained 7 to 20.45/cwt. 2021 was mixed 7 cents lower to 4 cents higher. 

Class IV milk was unchanged in Ocober at 13.52, November gained 6 to 13.63, and Dec gained 18 cents to 13.70/cwt. 

Grain complex has Corn even on the day at 3.98 ½, Soybeans gained 4 ¾ to 10.56 ½, and soybean meal gained $1.70 to 378.60/ton.