Cheese Trade Continues to Make Markets Move
The CME spot product market has continued to be an interesting trade as we move further into the week. On Tuesday all 5 products traded and 3 of the 5 traded higher. Butter fell ½ a cent finishing at $2.27 ½ cents per lb. Blocks moved 5 cents higher on Tuesday after Monday’s 7 cent jump finishing at $1.69 cents/lb. Barrels continue to move higher back to levels we saw in September finishing up 1 ¾ cents on at $1.58 ¾ cents. Grade A non-Fat dry milk rose ¾ of a cent to 96 ¼ cents per pound. And lastly dry whey fell ½ a cent to 32 ¼ cents.
The positive cheese trade this morning moved over into the class 3 markets trading anywhere from 1 to 13 cents higher. March settled 1 cent to 15.06, April finished up 13 cents at 15.62 and may finished up 7 cents to 15.45. months June through December traded 1 to 3 cents higher. The rest of the 1sthalf average is now at 15.43 and the second half average is at 16.26.
Class 4 markets were also positive on Tuesday trading anywhere from 5 to 10 cents higher.