June 13, 2019

Cheese Shreds The Markets

 |  By: Know Your Market

Cheddar led the charge in Thursdays CME spot product trade. Barrels gained 5 cents as it tries to catch up to Blocks which gained 1 ½ cents. Blocks finished at $1.80/lb and Barrels at $1.60 ¼ llb. Levels we have not seen since late 2016 into 2017. Butter was unchanged with 11 loads trading at $2.39 1/4/lb.

Dry Whey also gained half a penny to $0.36 3/4/lb and Grade A Non Fat Dry milk was unchanged at $1.05 1/2/lb.

Class III milk followed cheese. June was our only outlier, falling 1 cent to $16.31, July gained 15 cents to $17.21, and our July – December average moved higher finishing at $17.21. We also saw more movement in our 2020 market. Jan-March gained 6-13 cents and finished with a first quarter average at $16.42/cwt.

Class IV milk was unchanged nearby, but gained 5-6 cents in the remainder of 2019 months. June finished at $16.80/cwt, July at $17.21 and a second half average at 17.50/cwt.

Feed costs continue their rise. July corn gained 12 cents to $4.42 , Soybeans gained 10 to 8.88 even, and July SBM gained $2.20 to $321.70/ton.

For Commodity Risk Management Group, this is Jenny Wackershauser on know your markets.

This block is broken or missing. You may be missing content or you might need to enable the original module.