Class III Continues To Push Forward
The Class 3 markets started off the week moving higher for the 3rd consecutive session trading anywhere from 5 to 20 cents higher across the board with most gains in the front months. Nearing expiration, the February contract was unchanged to finish at 13.95, March gained 17 cents to 15.07 and April rose 11 cents to 14.91. Including January, the first half and second half average is now at 14.78 and 16.31
Class 4 markets were fairly quiet on Monday as March was the only contract traded and lost 4 cents to 15.88. The rest of the months were unchanged.
The CME Spot product market started the week fractionally higher and lower as all 5 products traded but finished the session mixed. Butter started the week off higher as it rose ¾ of a cent to $2.26 ¾. Blocks continue their run higher gaining ¼ of a cent to finish at $1.59 ¾ cents/lb. Barrels also continue to hold higher a price gaining ½ a cent during the session to $1.41 cents. Grade A Non Fat dry milk fell 1 cent to 98 ¾ cents. And Lastly Dry whey fell ½ a cent to 35 ¼ cents.