Trading markets
January 17, 2018

Class III Futures Experience Double Digit Gains

 |  By: Know Your Market

Follow through strength in the dairy markets was seen on Wednesday after the Global Dairy Trade led prices higher on Tuesday. Cheddar barrels and Grade A nonfat dry milk carried most of the product activity Wednesday.

Barrels traded 16 loads and closed at $1.3225, up 4 ¾ cents for the day. Grade A nonfat dry milk finished 1 & ¾ cents higher to 20 ¾ cents after 10 trades, 13 bids, and 11 offers. Cheddar blocks jumped 5.5 cents to $1.5225 on 2 bids. No trades or offers were presented. Butter lost a penny and settled at $2.15 per pound. One trade took place. Dry whey futures were up a quarter cent to a penny higher as well.

Class III milk futures experienced double digit gains in the February through June timeframe. February and March were up 32 cents apiece. April through June added 8-21 cents. At the close, first half 2018 was averaging $14.03 per cwt. July through December months were up 4-12 cents and helped raise the full 2018 average to $14.81 per cwt. Class IV milk futures were also up Wednesday. February through September markets jumped 8-24 cents higher and settled with a full year average at $14.11 per cwt.