Cheese Markets Continue to Strengthen
Despite a stronger product trade again on Thursday, milk prices failed to follow along. Barrels traded 7 more loads on Thursday bringing the weekly total to 39. In that time, barrels have added 13 1/4 cents and closed at $1.35 per pound. Blocks traded their first load Thursday and added 3 1/4 cents to finish at $1.55 1/2. Butter fell 1 3/4 cents to $2.13 1/4. Grade A nonfat dry milk gained a quarter cent to 71 1/2 cents on three trades. Dry whey futures were up a 1/2 to 1 1/2 cents.
The Class III milk market found many willing sellers on Thursday. After starting the day 30 to 40 cents lower, milk battled back to soften the blow late in the session. January added a penny to $13.85 per cwt. February and March were 12 to 19 cents lower. April and May were 15 to 25 cents lower while June was 5 cents softer. Second half futures closed unchanged to 8 cents lower. The full year now stands at $14.72 per cwt. Class IV markets had just February and March trade. February closed unchanged and March added a penny to $13.51 per cwt. The Class IV milk market is offering $14.11 per cwt.